The UK soft drink company Cadbury Schweppes has been given the go-ahead by the US Federal Trade Commission for its proposed acquisition of Nantucket Allserve Inc.

The two companies have been granted early termination of the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act, it was reported today.

Cadbury Schweppes is seeking to acquire Nantucket Allserve from Ocean Spray Cranberries. Financial terms weren't disclosed but Cadbury Schweppes said it will fund the transaction through debt lines.