Elders IXL Managers Say Buyout Near: Elders...
Elders IXL Managers Say Buyout Near: Elders IXL Ltd. Chairman John Elliott and other executives said they were close to completing a buyout bid for the Australian brewing company through their privately held firm, Harlin Holdings. Elliott said Harlin, which currently owns a 34% fully diluted stake in Elders, is arranging financing for a stock swap that values the company at $4.08 billion. He added that Harlin is expected to make an announcement before an Elders shareholders meeting on July 27. Elders is part of a group helping Los Angeles investor Alfred Checchi finance his $4.05-billion bid for NWA, the parent of Northwest Airlines.
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