UK: AG Barr, Britvic get second extension on merger talks
The companies have until November 28 to formally announce their plans
The soft drinks firms now have until 28 November to formally announce a "firm intention" over a possible tie-up. "Substantial progress has been made and the two parties are now at an advanced stage of discussions, which are ongoing," the companies said in a joint statement this morning (31 October).
The deadline to make an announcement was meant to be at close of business today, after a previous extension was sought earlier this month.
Press speculation has suggested that part of the reason for the delay is a dispute over the name of the potential new entity.
In preliminary discussions, the two firms have already agreed that shareholders in Britvic will hold 63% of the merged entity, with AG Barr accounting for 37%.
To see just-drinks' full coverage of AG Barr and Britvic's proposed merger, click here.
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
The company is focused on following three main strategies in 2013 in order to maintain its presence as one of the leading soft drinks manufacturers in the UK. These are innovation, increased distribut...
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The drinks sector is particularly fertile ground for mergers and acquisition activity, with a number of big businesses accustomed to making acquisitions to spur growth, new players popping up all over...
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