Winemaker Staves Off Constellation Takeover
- Share via
Vincor International Inc., Canada’s largest winemaker, fought off a hostile takeover bid by Constellation Brands Inc.
Fairport, N.Y.-based Constellation, the world’s biggest winemaker known for such brands as Robert Mondavi, said its offer of 33 Canadian dollars a share, valuing the deal at $948 million, had expired.
Constellation, which had sweetened its initial September offer of 31 Canadian dollars a share, said it was time to “move on to other priorities” and end its pursuit of Vincor.
U.S.-traded shares of Vincor, based in Mississauga in the Canadian province of Ontario, fell $2.44 to $26.25. Constellation fell 1 cent to $24.82.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
