Canada: Molson is still sweating on a rival bid to its proposed merger with Coors, but none have been received yet. Investors have been expecting a competing offer, including a possible bid from Ian Molson, the former deputy chairman of Molson. Ian Molson, who holds 2.3m Class B voting shares, or 10% of the votes, told the company in July he may make an offer.

Prior to attending a business conference in Calgary on Friday (10 September), Molson’s chief executive, Dan O’Neill, told reporters: “There’s been nothing (from Ian Molson), no suggestion since the letters were received. We’ve not had any further communication.”

Last week, the chief executives of Coors and Molson admitted that their efforts so far may not have secured the merger between the two brewers. A series of meetings has been planned with fund managers who control millions of Molson Class A shares.

15 September, 2004