At least fourbrewery companies are expected to make a bid for Guelph, Ont., based SleemanBreweries Ltd., according to media reports Monday.
The Globe and Mail, citing unnamed sources, said Molson Coors Brewing Co.,Labatt Brewing Co. Ltd.,Royal Grolsch NV of the Netherlandsand Sapporo Breweries Ltd. of Japan are all interested in Sleeman and are expected to table offers by late Monday — the company's self-imposed deadline for expressions of interest.
The Globe said bids for the company could come in above $15 a share. That helped Sleeman shares jump 15 per cent in Monday trading âup $1.95 to a close of $15.25.
A $15-a-share offer would value Sleeman at $251 million.
In May, Sleeman announced a strategic review to boost shareholder value, which it said at the time could include the possible sale of the company. Sleeman is Canada's third biggest beer maker.