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Britvic PLC - Hemel Hempstead, England-based maker of Robinsons, J2O and Tango soft drinks - The UK Competition & Markets Authority launches inquiry into whether Britvic’s acquisition by Copenhagen-based brewer Carlsberg AS could weaken competition in the UK. The CMA previously had said it was considering such a move, and on Wednesday says it has given notice of the inquiry. The CMA says it will take into account all views submitted in its preliminary invitation to comment back in September. The competition regulator has until December 18 for a phase 1 decision.
Back in July, Britvic accepted a takeover from Carlsberg at 1,315 pence per share, comprised of 1,290p per share in cash and a special dividend of 25p. This values Britvic’s equity at £3.3 billion and gives the company an enterprise value of £4.1 billion, including debt.
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