By James Atkinson
Little World Beverages, brewer of Little Creatures beers, has announced that the Federal Court has approved the company's takeover by Lion.
LWB expects to lodge a copy of the Court orders with the Australian Securities and Investments Commission later today, at which time the deal will become legally effective.
LWB then intends to request that its shares be suspended from trading on ASX with effect from the close of trading today.
As previously announced, LWB shareholders will receive a total payment of $5.30 per share, comprising $5.10 cash per share and a fully franked special dividend of $0.20 per share.
A total of 94.46 per cent of shareholders representing 99.79 per cent of votes were in favour of the deal, under which Anglo-Gaelic Investments Pty Ltd (AGI), a wholly-owned subsidiary of Lion, will acquire the remaining 64 per cent of LWB that it does not already own.
Little Creatures founders Howard Cearns, Nic Trimboli and David Martin have recently set up a new spirits and wine distribution company.