Molson shareholders approve merger with Coors

Ma Deuce · Post by **Ma Deuce** » 2005-01-28 10:41am

Yahoo wrote:Molson Inc. shareholders approve merger with U.S.-based Adolph Coors Co.

MONTREAL (CP) - Shareholders of historic brewer Molson Inc., one of the oldest companies in Canada, voted on Friday to approve a merger with U.S.-based Adolph Coors Co.

The merger would create a beer giant with more than $6 billion US in annual sales. Coors shareholders will vote on Feb. 1 in Golden, Colo.

Molson Class A shareholders voted to approve the deal by 80.2 per and Class B common shareholders voted to approve the deal by 84.3 per cent at a special meeting.

Molson's market share in Canada has fallen. But the merger will combine Molson's 43 per cent market share in Canada, and 11 per cent in Brazil, with Coors' 11 per cent share in the United States, 8.5 per cent in Canada and 21 per cent in Britain.

The proposed deal was controversial from the start, and had to be amended several times to satisfy reluctant Molson shareholders.

Twice a premium was attached to Molson shares, who will get $5.44 a share cash, plus 0.36 of one share in the combined Molson-Coors company.

Only shareholders of record on Nov. 22 voted.

A positive vote needed two-thirds of a majority from both the common Class B shareholders and the multiple vote Class A shares held by the heirs of the Molson family founders, including current chairman Eric Molson.

Those in favour of the merger saw a chance for the combined company to play a part in the continuing global consolidation.

Those against it looked at the relatively small markets, and worried because the founding family heirs of each brewer will continue to control Molson-Coors through multiple-voting shares.

aerius · Post by **aerius** » 2005-01-28 10:58am

So much for those "I Am Canadian" commercials. But that's no big deal to me since I don't drink their beer anyway, Molson is the Canadian equivalent of Budweiser and Coors tastes like water.

Alex Moon · Post by **Alex Moon** » 2005-01-28 11:19am

aerius wrote:So much for those "I Am Canadian" commercials. But that's no big deal to me since I don't drink their beer anyway, Molson is the Canadian equivalent of Budweiser and Coors tastes like water.

As a coloradan I'm obliged to kill you over that comment. Yes it's true, but that doesn't matter.

So I guess this new beer will be called Moors?

aerius · Post by **aerius** » 2005-01-28 11:39am

Alex Moon wrote:
aerius wrote:Molson is the Canadian equivalent of Budweiser and Coors tastes like water.
As a coloradan I'm obliged to kill you over that comment. Yes it's true, but that doesn't matter.

And then there's Coors Light, the beer that you can drink a case of and not get drunk. It's like de-alcoholized beer, but without the flavour.

So I guess this new beer will be called Moors?

Maybe, or Colson, but they'll probably keep the brands separate and call it Coors-Molson for the stock exchange listings.

Ma Deuce · Post by **Ma Deuce** » 2005-01-28 11:48am

aerius wrote:Maybe, or Colson, but they'll probably keep the brands separate and call it Coors-Molson for the stock exchange listings.

Molson-Coors, actually: Despite Molson's first place in the new name, we all know which "half" of the new company will be dominant...

Col. Crackpot · Post by **Col. Crackpot** » 2005-01-28 12:02pm

HA! Canada, all or your beer are belong to us!

Frank Hipper · Post by **Frank Hipper** » 2005-01-28 12:07pm

Coors has a 21 percent market share in Great Britain?

Budweiser is positively delicious compared to Coors; I guess Coors tastes better when served warm?

Pint0 Xtreme · Post by **Pint0 Xtreme** » 2005-01-28 12:38pm

Coors = evil... among one of many American companies that donate to anti-gay programs.