AUSTRALIA: Analysts see bidding war for Neverfail
Analysts are predicting a bidding war for the Australian home and office delivery water company Neverfail Springwater, following the hostile takeover bid by soft drink company Coca-Cola Amatil earlier this week. Amatil on Tuesday launched a A$280m - or A$2.25 a share - takeover bid for Neverfail, Australia's leading HOD player. However within hours of the announcement Neverfail's board had rejected it calling it "inadequate".
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