AUSTRALIA: CCA bid not reasonable says Neverfail
The report has been compiled by Grant Samuel & Associates, who said the value of Neverfail is in the range of A$2.49 to A$2.80 a share, against CCA's hostile bid price of A$2.25 a share.
The report also suggested that Neverfail's assets could be attractive to another bidder. There has been speculation that both Nestle and Danone were considering a counter-bid though this has not been confirmed.
While Neverfail is adamant that CCA's bid undervalues the company, last week CCA suggested that it was reviewing its offer price after Neverfail issued a downgraded profit forecast for 2003. Meanwhile, CCA has announced that it is to acquire the bulk water supplier, Peats Ridge Spring.
Coca-Cola announced last week that it was taking over full control of its US water joint venture, CCDA Waters, buying out its partner, Danone. However, speculation over the poor performance of the CCD...
Nestle Waters is to bottle its Contrex and Vittel water brands at the same plant in France, according to local press reports....
Nestle Waters has bought a majority stake in a new joint venture in Algeria....
The investment bank Credit Suisse First Boston has raised its rating on shares in Coca-Cola Amatil to "Outperform" from "Neutral"....
Shares in the Australian based soft drink company Coca-Cola Amatil fell 11% during trading today, although they recovered a little towards the end of trading, as the company announced a disappointing ...
Nestle Waters Spain has inaugurated a new water plant in Herrera del Duque near Badajoz, western Spain, a company spokesman has confirmed to just-drinks....
Nestle Waters has finally reached an agreement with the CGT trade union over restructuring plans for its Perrier bottling plant....
Nestle Waters is to launch a range of sugar free water drinks under its Vittel water brand in time for summer....
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