Pabst Brewing Company - Page 13

                                       - 13 -                                         
          November 18, 1982, purporting to make the additional disclosures            
          ordered by the District Court and raising its offer price to                
          $30 per share for the 3 million shares it was seeking.  On                  
          November 23, 1982, JMSL announced in a press release that it had            
          again increased the Second JMSL Offer price to $35 per share.  On           
          November 24, 1982, the District Court denied the motion of the              
          Jacobs Group and Kalmanovitz for a preliminary injunction against           
          the First HBC Offer.                                                        
               On November 22, 1982, the Justice Department's antitrust               
          division filed a civil suit against petitioner and Heileman, a              
          stipulation, and a proposed final judgment (1982 Consent Decree)            
          in the District Court.  See United States v. G. Heileman Brewing            
          Co., 563 F. Supp. 642 (D. Del 1983).  The complaint alleged that            
          competition in the United States beer industry might be                     
          substantially lessened if Heileman acquired and exercised control           
          over petitioner and Olympia.  Petitioner and Heileman agreed to             
          be bound by all of the terms of the 1982 Consent Decree pending             
          its approval by the District Court.  After reviewing the proposed           
          1982 Consent Decree to determine whether it was in the public               
          interest, the District Court approved and entered it.  The 1982             
          Consent Decree ensured that the essential terms of the Agreement            
          in Principle, including Heileman's acquisition of the Transferred           
          Assets and the transfer of the other assets to unrelated parties,           
          would be consummated.  In relevant part, the decree provided that           
          Heileman intended to acquire only certain assets of petitioner              




Page:  Previous  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  Next

Last modified: May 25, 2011