The Australian soft drinks bottler, Coca-Cola Amatil (CCA), has finally passed the necessary 90% limit required to proceed to compulsory acquisition in its takeover of the bottled water company, Neverfail Springwater.
The company, which is 35%-owned by the Coca-Cola Company, announced that it has secured 90.03% of Neverfail.
CCA just squeezed through before what it said was its final deadline for the A$280m offer at 19:00 on 30 July. Amatil had put the deadline back repeatedly as it strove to achieve the necessary threshold.
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