Under pressure to up its takeover offer for the Neverfail Springwater business, following speculation a counterbid will emerge from overseas, Coca-Cola Amatil has reiterated that it regards its A$2.25-a-share offer full and fair.
Amatil boss Terry Davis said: “We believe the offer is full and fair.” He declined to say whether he would consider upping the bid, adding that he had not had any contact with Neverfail since making a brief call to its CEO when the bid was announced on Tuesday.
Neverfail’s shares have been trading above the A$2.25 bid price since the offer was announced, spurred on by speculation that an international water concern such as Danone or Nestle would trump the Amatil bid.
