Chalone Gives Joint Bidders Access to Data
Chalone Wine Group Ltd. said Friday that it entered into a confidentiality agreement with winemakers Constellation Brands Inc. and Domaines Barons de Rothschild in connection with their potential purchase of Chalone.
Chalone, based in Napa, Calif., said in regulatory filings that the agreement to provide certain financial information to Paris-based Rothschild and Fairport, N.Y.-based Constellation expires in 2007.
Constellation, the world’s biggest winemaker, and closely held Rothschild offered in May to buy the 54% of Chalone that Rothschild doesn’t already own for $9.25 a share in cash, or about $60 million.
Chalone, which produces red and white wines through vineyards including Acacia in California, hired Thomas Weisel Partners last month to advise it on the purchase offer.
Shares of Chalone rose 60 cents to $10.70 on Nasdaq. Constellation, rose 21 cents to $37.25 on the New York Stock Exchange.
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