According to a report in the newspaper, The Australian, the mineral water company, Neverfail Springwater, has rejected a slightly improved informal offer from Coca-Cola Amatil (CCA). According to the report, CCA had offered to raise its A$2.25 per share offer by 3 cents.
CCA has reportedly said it will not improve the offer further. The Neverfail board formally rejected CCA’s U$2.25 per share takeover bid and has been seeking alternative buyers with both Nestle and Danone mentioned as possible bidders.
CCA has also approached market regulators, the Australian Securities and Investments Commission and the Australian Stock Exchange, to request Neverfail to clarify speculation regarding counter bidders.
The soft drinks group said clarification would inform all Neverfail shareholders about whether an alternate bid was on the table.
