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Britvic PLC - Hemel Hempstead, England-based maker of Robinsons, J2O and Tango soft drinks - The UK Competition & Markets Authority clears Britvic’s acquisition by Copenhagen-based brewer Carlsberg AS. The CMA says it has decided to not refer the merger to a phase 2 investigation. It had launched its initial inquiry back in October, have requested comments on combination in September. 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.
With the CMA clearance, all regulatory conditions of the offer have been satisfied. A sanction court hearing will be held on January 15, with the scheme of arrangement for the takeover becoming effective on January 16.
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12-month change: up 52%
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