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INVESTMENT RAIDERS READY TO DIVVY UP LABATT'S HOLDINGS
Published April 18, 1995
The "behind-the-scenes jockeying" over John Labatt Ltd. intensified Monday as a major Canadian broadcaster, CanWest Global Communications Corp., confirmed it has been approached by investment bankers about acquiring some Labatt assets if the company is sold. Meanwhile, sources disclosed that South American brewer Quilmes Industrial, SA is still considering teaming up with leveraged buyout firm Onex Corp. for a multi- billion dollar run at Labatt. CanWest has already started preliminary talks with Labatt about its intention to spin off some of its broadcast and sports assets (Marina Strauss, Toronto GLOBE & MAIL, 4/18). Labatt's assets include the Blue Jays, SkyDome and TSN. Speculation is that if Onex is successful in acquiring Labatt, it will sell off all of its assets with the exception of the brewery (FINANCIAL POST, 4/15).