Carlsberg UK Holdings Limited, the British subsidiary of Danish beer giant Carlsberg A/S, agreed to acquire British soft drinks maker Britvic for £3.3 billion.
Carlsberg will pay 1,315 pence for each Britvic share, which includes 1,290 pence in cash per share and a special dividend payment of 25 pence per share. The transaction is subject to Britvic shareholders' and regulatory approvals and is expected to close during the first half of 2025.
Britvic's board proposed the acquisition after earlier rejecting an offer of £3.11 billion. "The Board of Directors believe that the strategic merits of this offer are compelling, and the offer also provides shareholders with the opportunity to receive the certainty of cash consideration that reflects the current strength and medium-term prospects of the Britvic business," Britvic non-executive chair, Ian Durant, stated.
