The soft drinks company, Coca-Cola Amatil, has extended the closing date for its A$2.35-per-share takeover bid for the bottled water company, Neverfail Springwater, from 15 July to 30 July.

CCA has extended the offer several times but has said that it will not extend it any further. On Friday, the Neverfail board finally withdrew its opposition to the bid after opposing the offer since it was first launched at the end of April.

So far, CCA has gained acceptances for 86.19% of Neverfail and needs 90% to move to compulsory acquisition of the remaining shares.