Kirin Holdings is offering a 47% premium to acquire the remainder of Australasian beer and wine producer, Lion Nathan.
Kirin, which has a 46% stake in Lion, is offering $A12.22 per share, compared to last Wednesday's closing price of $A8.31 when trading in the the brewer's shares were halted.
The offer values Lion, which makes Steinlager and Speights in New Zealand and XXXX and Hahn beer in Australia, at $A6.5 billion.
Kirin has been expanding internationally in recent years as the beer market shrinks in Japan. Analysts say it has over $A5.5 billion to spend on acquisitions.
In Australia, it bought National Foods in 2007 and Dairy Farmers last year. Kirin was a keen supporter of Lion's failed bid for Australian bottler Coca-Cola Amatil last year.