As per media reports, the terms for $2.5 billion takeover by Japanese brewer Kirin, which is making a rapid push into Asian markets, has been agreed upon by Australian brewer Lion Nathan Ltd.

From quite a while now, Lion Nathan, Australia's No.2 beer maker, has been in negotiations with the terms for Kirin's offer, which was first announced late in April.

It was confirmed by Lion officials on Monday, “Kirin's offer for the remaining 53 percent of Lion Nathan it did not already own is worth A$12.22 a share, comprising A$11.50 a share in cash and dividends of A$0.72.”

The Lion’s non-Kirin shareholders would vote for the offer that would most probably happen in September or October, and would need 75 percent support. Backing for the deal has already been indicated by some smaller shareholders.

Furthermore, the vote would also be required to be cleared by regulators on foreign investment and competition terms.

If the takeover by Lion Nathan is successful, it would permit Kirin to tie in the maker of XXXX Gold and Hahn beer with its other businesses in Australia, dairy and juice firm National Foods and milk group Dairy Farmers.