US: K&N eyes stake in Coca-Cola Co
K&N Value Select Corp has said that it aims to buy a stake in The Coca-Cola Co. via a five for four exchange offer.
The Frankfurt-based K&N said in a statement today (2 November) that for every five Coca-Cola shares, shareholders will receive a change into four shares of K&N Value Select Corp.
K&N Value Select has said it plans to buy up to 100m Coca-Cola shares in the soft drinks company.
The investment holding company added that it reserves the right to limit the maximum number of shares. If more shares will be registered for exchange than K&N accepts, the assignment will be made on a pro-rata basis.
The offer will run from 12 November until the 20 December with settlements made once the offer period has expired.
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