Drinks maker Britvic rejects $3.93 billion takeover proposal from Carlsberg

Carlsberg is looking to expand its focus on categories including cider, hard lemonade, hard seltzers, and ready-to-drink cocktails as it sees rising consumer interest in beverages outside the traditional beer category, Reuters wrote.

Carlsberg is considering its options and said on Monday (24 June) that PepsiCo agreed to waive a clause in its bottling deal with Britvic, in a move that could pave the way for the Danish firm to raise its bid for the maker of Robinsons fruit cordial.

‘This waiver will come into effect should an acquisition of Britvic by Carlsberg, which has the recommendation of Britvic’s board, proceed to completion,’ Carlsberg, which bottles Pepsi drinks in some markets, said.

According to ESM, the company will evaluate recommencement of the share repurchase programme should the circumstances change.