Australian Wine Firm Tries to Flush Out Higher Bid for Firm.
By Bill Condie, Evening Standard, London Knight Ridder/Tribune Business News
Sep. 1--The founder of Peter Lehmann Wines, one of Australia's best-known wine labels, sold 5.4 percent of his personal stake in the company to the Swiss Hess Group of Switzerland in order to squeeze a higher bid from Allied Domecq, according to Australian wine industry sources.
On Friday, the Hess Group launched a A$131 million (UKpound 53.8 million) takeover of Peter Lehmann Wines at A$3.50 cash per share. PLW independent directors have agreed to accept the offer in the absen
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