UK: AG Barr, Britvic target merger completion by end of February
The two groups expect the deal to complete by the end of next month
The new company formed from the merger of AG Barr and Britvic is expected to start trading by the end of next month after the UK's Office of Fair Trading (OFT) said it is to due to give its decision by 13 February.
In a regulatory filing today (16 January), Britvic said that the OFT has told both parties of its “revised” target date for a decision. The deal has been delayed after the OFT said earlier this week it needed more time to investigate the GBP1.5bn (US$2.4bn) tie-up.
The filing indicates that the companies expect Barr Britvic Soft Drinks to become effective on 26 February and start trading on the London Stock Exchange the following day.
However, a “long stop” date of 30 June has been inserted.
“The dates and times given are indicative only and are based on A.G. Barr's and Britvic's current expectations and may be subject to change,” the filing said.
Shareholders of the two groups gave the green light for the merger last week.
To see just-drinks' full coverage of AG Barr and Britvic's proposed merger, click here.
Britvic requires a "significant cultural change", an analyst has warned while dismissing its chairman's claims performance has improved since it agreed to merge with AG Barr....
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