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LABATT OFFICIALS CLAIM THEY ARE EXPECTING A RIVAL BID

     John Labatt Ltd. officials said yesterday "publicly and
privately" that they are expecting to receive a rival bid to
Onex's C$2.3B offer, according to this morning's FINANCIAL POST.
Denmark's Carlsberg is seen as "the most likely prospective
bidder" (FINANCIAL POST, 6/1).  The restructuring of TSN,
Labatt's sports cable broadcast property, to create a C$150M tax
liability for an unwelcome investor was called as an "incentive"
for a rival to outbid Onex by Labatt spokesperson Paul Smith.
One Onex official told the GLOBE & MAIL that the company had
already accounted for the C$150M as a windfall in their bid for
Labatt's and that the possible loss of those funds "would lower
Labatt's value and the bid price" (Marina Strauss, GLOBE & MAIL,
6/1)
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