Business
Jun 24, 2024, 5:07 PM
Jun 21, 2024, 8:24 AM
The TelegraphDaily MailThe GuardianCNBC

Carlsberg's takeover bid rejected by Britvic, shares drop sharply

Britvic British producer of soft drinks Carlsberg Group Danish brewery group
Highlights
  • Britvic has rejected Carlsberg's takeover offer worth £3.1 billion
  • Shares of Carlsberg fell 9% in response to Britvic's rejection
  • J2O and Robinsons squash maker's shares rise after firm rebuffed Carlsberg's proposals
Story

Britvic, the UK soft drinks maker, rejected a £3.1bn takeover proposal by Carlsberg Group, stating it undervalued the company. Britvic shares rose after Carlsberg's two takeover proposals, with the last cash offer at £12.50 a share. The company has an exclusive license with PepsiCo in Great Britain and Ireland. Britvic reported strong revenue growth and announced a £75m share buyback program. Carlsberg's shares fell after Britvic's rejection, and Carlsberg now has until July 19 to make a firm offer or walk away from the transaction. Britvic's rejection comes amidst a wave of foreign takeovers in the London stock market.

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