Britvic, the soft drink manufacturing company, declined a takeover offer from Danish beer producer Carlsberg worth £3.1 billion (€3.7 billion). This news led to a significant increase in Britvic shares, which rose as much as 15% on the following Friday. Carlsberg presented its proposal to acquire the entire business on June 11th, offering a value of 1,250p for each share, amounting to £3.1 billion in total. Despite this, Britvic dismissed the proposal, deeming it significantly underpriced and not reflective of both its current value and future potentials. This came only a week after Britvic had turned down a different approach by Carlsberg, priced at 1,200p per share. The board of Britvic assuaged its shareholders, asserting its confidence in the company’s prospects and promising to scrupulously consider any further proposals. They underlined, however, the unpredictability of whether a concrete offer would be made or of the stipulations of such an offer.
