Sydney, April 24 - Japan's Kirin Holdings has made an initial bid of A$11 a share to buy out the remainder of Australasian brewer Lion Nathan Ltd, but Lion wants a higher price, the Australian Financial Review said on Friday.
A deal at A$11 a share would value all of Lion Nathan at about A$6 billion ($4.24 billion) and the 53.9 percent stake not already owned by Kirin at about A$3.2 billion.
In a separate report on Friday, the Australian newspaper quoted unnamed sources as saying Kirin would offer more than A$11.50 a share.
Last year, Kirin offered to pay A$11.50 a share for Lion shares as part of the funding Lion needed for a failed A$7.6 billion bid for Australian drinks group Coca-Cola Amatil.