2007-04-12

Competition Bureau Seeks To Delay Lakeport Takeover

The Hamilton Spectator OTTAWA (Apr 12, 2007)
The federal Competition Bureau hasn't given up its attempt to at least delay the takeover of Lakeport Brewing Income Fund, a pioneer of the "buck a beer" strategy in Ontario, by industry giant Labatt Brewing Co.

The bureau announced yesterday that it has filed a notice with the Federal Court, seeking to appeal the Competition Tribunal's refusal to grant a 30-day interim order preventing Labatt from completing its $200-million acquisition of Lakeport.

The Bureau's Melani Aitken said yesterday in a statement that "we believe that there is an important issue at stake in terms of the Bureau's ability to conduct appropriate reviews, while ensuring that sufficient remedies remain available if the Tribunal ultimately determines that the merger is likely to substantially lessen or prevent competition."

Lakeport unitholders tendered 91.4 per cent of their trust units to the offer by the deadline.

Labatt had no comment.

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