Lion takeover bid decision extended

The deadline for the Commerce Commission's decision on Lion Nathan's possible bid for Independent Liquor has been extended by almost a month.

Lion Nathan has applied to the commission for clearance to buy up to 100 per cent of Independent, arguing that the move would not substantially reduce competition in the beer, ready-to-drink and spirits markets.

The commission's decision had been due yesterday but the target is now August 11.

Extensions are common and Lion Nathan' said yesterday: "We're comfortable with the process."