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.
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