Allied Domecq will find out next month whether it has any chance of getting its hands on top New Zealand winemaker Montana, which was snatched from its clutches in February by Australian brewer Lion Nathan. Montana is New Zealand's largest wine producer, accounting for about 45% of domestic wine production, with brands which include Montana, Lindauer, Corban's and Brancott Estate. Lion trumped Allied's NZ$4.40 a share offer for the whole company at short notice with a NZ$4.65 deal targeting only institutional investors, taking its share in Montana to 51% before Allied had a chance to launch a counter-bid. AD claims Lion broke NZ stock exchange rules by buying the shares during a notice and pause period. A committee set up by the NZSE will meet on May 5 to determine whether Lion acted properly. If Lion is forced to sell the shares, Allied is waiting in the wings to pounce. "We have filed a notice with the stock exchange allowing us to make a renewed bid," confirmed a spokeswoman. "We feel the process was not followed correctly last time." The plot thickened later in the week as Lion Nathan responded to Allied Domecq's move and filed its own notice with the exchange, allowing it to purchase additional shares in Montana. {{NEWS }}

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