Coors Molson Merger Gets a Green Light
In a meeting, Coors shareholders approved the merger with Molson completing all of the steps necessary for the merger to become a reality.
Chairman Peter Coors said “This is a momentous time for our Company. We are very appreciative of the support shown by our shareholders for the joining together of two great beer companies and traditions — Coors and Molson.” He added “Coors and Molson were both founded by bold pioneers in their own time and our family looks at this merger as a pioneering step in its own right.”
The merger is expected to be closed by February 9 before the stock markets open. Earnings information for both companies will be released on February 9, 2005.
“We are extremely pleased that Coors shareholders recognize the compelling strategic and economic benefits of this merger,” said Coors CEO Leo Kiely. “We now expect to complete the transaction on February 9th, allowing us to quickly begin executing on the comprehensive integration plans we have been preparing. We are thankful for the support we’ve received from our shareholders, employees and customers, and are energized and confident as we move to capitalize on the great potential of this combination.”
Combined, Molson and Coors will form the fifth largest brewer in the world. I’ll drink to that.