Sleeman Breweries
formerly Toronto symbol ALE, is a leading Canadian brewer. The company was acquired by Sapporo Breweries in 2006.
SLEEMAN BREWERIES LTD. $17.38 (Toronto symbol ALE; Aggressive Growth Portfolio, Consumer sector, SI Rating: Average) has accepted a friendly $17.50-a-share all-cash offer from Japan’s Sapporo Breweries Ltd.
That’s a 150.0% gain over the $7 that we first recommend Sleeman at in our November 1999 issue. Two-thirds of Sleeman’s shareholders must approve the takeover at a special meeting in October 2006.
We advise …read more »
Our focus on high-quality stocks attracts an above average number of takeover offers. Besides Falconbridge, two more of our long-time favourites are now the target of buyout offers:
INCO LTD. $85.50 (Toronto symbol N; Conservative Growth Portfolio; Resources sector; SI Rating: Average) is the world’s largest producer of nickel. It recently dropped a plan to merge with U.S.-based copper producer Phelps …read more »
SLEEMAN BREWERIES LTD. $11 (Toronto symbol ALE; SI Rating: Average) earned $0.03 a share (total $539,000) in the three months ended December 31, 2005, down sharply from $0.23 a share ($3.9 million) a year earlier. Revenue fell 7.8%, to $49.6 million from $53.8 million, due to intense competition from smaller regional brewers that receive provincial subsidies. That lets them sell …read more »
DOFASCO INC. $71 (Toronto symbol DFS; SI Rating: Average) has accepted a $71.00-a-share takeover offer from Arcelor SA after rival bidder ThyssenKrupp AG decided not to match Arcelor’s offer. However, UK-based Mittal Steel Co. has launched a hostile takeover for Arcelor. Mittal’s bid for Arcelor is unlikely to affect Arcelor’s plan to buy Dofasco.
Dofasco shareholders should tender their shares to …read more »
