A firm offered $27 million for Pittsburgh Brewing.

Swan Acquisition Corp., a subsidiary of Swan Brewery Co. of Canningvale, Australia, offered $21.50 cash per share for each of Pittsburgh Brewing’s 1.25 million shares outstanding. Pittsburgh Brewing is the ninth-largest U.S. brewer. The offer stands only if Pittsburgh Brewing’s management withdraws a previous offer to pay $26.5 million in cash and securities for the company.