Robinsons and J20 maker Britvic rejects £3.1bn takeover bid from Carlsberg

robinsons and j20 maker britvic rejects £3.1bn takeover bid from carlsberg

Robinsons squash maker Britvic has rejected a takeover offer from Carlsberg

Britvic, the maker of Robinsons squash and J2O, has rejected a £3.1billion takeover bid by Danish brewing giant Carlsberg.

Britvic, based in Hemel Hempstead, Hertfordshire saw its shares surge up by 15% on Friday reflecting the market's response to the offer. According to Britvic, the offer was made on June 11 - a proposal from Carlsberg for the whole business that assigned a value of 1,250p per share, equivalent to £3.1billion, to the company.

However, Britvic decided within a few days that the approach "significantly undervalues Britvic, and its current and future prospects" and dismissed the offer. It came a week after a 1,200p per share offer from Carlsberg which was also rejected. Britvic made it clear to its shareholders: "The board remains confident in the current and future prospects of Britvic."

Adding to that: "It recognises its fiduciary duties and will consider any further proposal on its merits. There can be no certainty that any firm offer will be made for the company, nor as to the terms of any such offer, should one be made."

Carlsberg released a statment saying::"Carlsberg believes that the proposal represents a compelling opportunity for Britvic shareholders to realise their investment in full cash at an attractive valuation. Carlsberg believes that the potential transaction would enable it to capture appealing long-term growth opportunities from Britvic's comprehensive portfolio of leading brands in an attractive segment of the beverage market where Carlsberg already has a strong track record."

It comes four years after Carlsberg's significant expansion in the UK through its £780million joint venture with Marston's. This partnership resulted in the creation of the Carlsberg Marston's Brewing Company, which produces popular brands such as Hobgoblin and Pedigree.

OTHER NEWS

19 minutes ago

German coalition approves controversial 2025 budget to boost economy

19 minutes ago

Shady's back: Eminem to perform at Abu Dhabi F1 after-race concert

19 minutes ago

I’ve placed a big bet on this forgotten FTSE 100 share and think I’m onto a winner

19 minutes ago

Motor racing-Magnussen to vacate Haas F1 seat at end of season

19 minutes ago

North Korean Defector to Lead South Korea's Unification Council

19 minutes ago

New Minister wants to form a state-owned water company

19 minutes ago

Manipur Govt launches re-verification drive to curb illegal immigration from Myanmar

23 minutes ago

Revealed: The coronavirus outbreak plan ignored by the government during the pandemic

23 minutes ago

Mystery buyer sets record for most spent at dinosaur auction

23 minutes ago

Charlize Theron explains The Old Guard 2 release delay

23 minutes ago

Man Utd's stance on Matthijs de Ligt transfer emerges after medical completed

23 minutes ago

EU’s von der Leyen vows to fight for democratic, ‘strong’ Europe in bid for second term

23 minutes ago

Wage growth falls back further but continues to outstrip inflation

23 minutes ago

Joe Biden walks slowly off Air Force One after testing positive for Covid

23 minutes ago

Nawazuddin Siddiqui admits he did Rajinikanth’s Petta only for the money, says he feels ‘guilty’ for ‘cheating’ in his performance: ‘Itna saara paisa…’

24 minutes ago

Weather damage estimated to be in excess of R1bn as next storm hits today

24 minutes ago

Huge sale in Dubai: Amazon's Prime Day is underway

24 minutes ago

Here’s how the repo rate impacts your pocket

24 minutes ago

Former Secret Service agent says Trump would-be assassin Thomas Crooks scouted rally spot in advance

24 minutes ago

Bellingham ‘set up’ by senior England players who were ‘happy’ Real Madrid star took media ‘flak’

24 minutes ago

Is this the anti-ageing elixir we've all been waiting for? Scientists reveal whether it could REALLY slow human aging too - as 'supermodel granny' drug that extends lifespan of mice by 25% is created

29 minutes ago

China investigators suspect construction work caused fire that killed 16 people in shopping mall

29 minutes ago

Vietnam's President To Lam becomes caretaker of Communist Party while chief Trong focuses on health

33 minutes ago

Real Madrid fans will 'be made to wait for Kylian Mbappe's debut', with club's new superstar signing set to MISS their pre-season tour of the US

33 minutes ago

FA 'set to interview diverse coaches' in hunt for new England manager - with search for Gareth Southgate's successor the first since introduction of Football Leadership Diversity Code

34 minutes ago

Most intact stegosaurus fossil sold for record $44.6m at auction

34 minutes ago

The Acolyte star Manny Jacinto says he wasn’t surprised by Top Gun cutting all his lines

34 minutes ago

The FOMO over old buildings before they go

34 minutes ago

Mediacorp’s recent redecoration of a conserved bungalow done without necessary approval: URA

34 minutes ago

India’s Modi to focus on jobs, incomes in first Budget after election setback

34 minutes ago

Magnussen to vacate Haas F1 seat at end of season

34 minutes ago

Seoul says most striking doctors will not return to hospitals

34 minutes ago

Paris is the ultimate challenge for marathon legend Eliud Kipchoge

34 minutes ago

Trump to rally unified Republicans in rousing convention finale

34 minutes ago

REIWA data shows Perth’s top performing suburbs for house price increases

34 minutes ago

James Gunn gives promising Superman update after wrapping six week shoot

34 minutes ago

Foo Fighters abruptly end Queens show amid 'dangerous' storm

34 minutes ago

Man learns fate over violent attack on elderly man at Sydney nightspot

34 minutes ago

Is The Ritz-Carlton, Perth’s new collaboration with culinary creative Fervor WA’s most expensive travel tour?

34 minutes ago

Film adaptation of 24 'in early development'

ALONGWALKER VIETNAM: Kênh khám phá trải nghiệm của giới trẻ, thế giới du lịch ALONGWALKER INDONESIA: Saluran untuk mengeksplorasi pengalaman para pemuda global