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Labatt brews $201M deal for Ontario beer maker Lakeport

By Brandigal (Donna)     Feb 1, 2007 in Business
Stock in Lakeport jumps 36% after Labatt says it will buy the Hamilton brewer.
Labatt Brewing Co. said it plans to take over the discount brewer for $201.4 million shooting stock of Lakeport from $7.48 to $28.05 on the Toronto Stock Exchange.
Labatt said it will pay $28 per unit for every stock of Lakeport and it was recommended that shareholders take it.
Teresa Cascioli, Lakeport's chairwoman and CEO stands to make $40 million from the deal.
Miguel Patricio, the president of Labatt's North American operations said "This announcement demonstrates our commitment to growing Labatt in Canada and ensuring that our consumers have as much choice as possible across all beer segments."
The deal should be completed by the spring.
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