Coopers brewery to delay vote on offer

Coopers Brewery shareholders will have to wait a little longer to vote on whether to block Lion Nathan's takeover bid by removing its right to buy Coopers shares.

Coopers board will reconvene the meeting, originally slated for October 20, once it issues a formal target statement to shareholders that explains they will lose the option to sell into Lion Nathan's A$352 million takeover bid if they vote to remove Lion's pre-emptive rights. The final target statement, to be released in November, will make this clear.

Lion Nathan secured an injunction delaying the Coopers meeting on Tuesday.