AUSTRALIA: Amatil extends Neverfail deadline

The Australian soft drinks producer, Coca-Cola Amatil Ltd., has further extended the deadline on its takeover bid for Neverfail Springwater to July 8.

Amatil's A$2.35 a share offer for Neverfail was scheduled to close on Friday 27 July. The company has so far received acceptances for 83.3% of the shares but needs 90% before it can proceed to compulsory acquisition.

Earlier on Friday, Neverfail's chairman, Geoff Tomlinson, said he was holding on to his 3% stake in the company.

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