Premier Inc. targets Russell Breweries
VANCOUVER — Russell Breweries is the target of a takeover offer from Premier Diversified Holdings Inc., which recently acquired a significant minority stake in the regional beer maker. Premier says it would exchange one of its common shares for every 2.5 shares of Russell, which is headquartered in Surrey, B.C. Based on the Thursday closing prices of the two stocks, Premier says its offer is 36.7 per cent above the Russell market price.
Russell shares closed at six cents per share on the TSX Venture Exchange and Premier’s closed at 17 cents on the over-the-counter market.