Vincor snubs Constellation

Published: 23 July, 2008

Constellation Brands has thrown in the towel after Vincor International shareholders rejected repeated hostile takeover bids.
Constellation Brands' chairman and CEO Richard Sands said that it was unfortunate' for Vincor shareholders, and added that the company would now move on to other priorities'.
Mark Hilson, chairman of the special committee of independent directors of Vincor, said he was gratified that shareholders have supported our recommendation that Constellation's offer was inadequate, opportunistic and should be rejected'.

Constellation Brands has thrown in the towel after Vincor International shareholders rejected repeated hostile takeover bids.

Constellation Brands? chairman and CEO Richard Sands said that it was ?unfortunate? for Vincor shareholders, and added that the company would now ?move on to other priorities?.

Mark Hilson, chairman of the special committee of independent directors of Vincor, said he was ?gratified that shareholders have supported our recommendation that Constellation?s offer was inadequate, opportunistic and should be rejected?.

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