According to the report of Zhichao Finance APP, Danish beer giant Carlsberg (CABGY.US) has reached an agreement with PepsiCo (PEP.US), and PepsiCo has abandoned the control change clause in the contract with Britvic, which may pave the way for Carlsberg's acquisition of Britvic for 3.1 billion British pounds (3.9 billion US dollars). Britvic is PepsiCo's UK bottled drink manufacturer, producing brands such as Fruit Shoot and J2O.
Carlsberg said last Friday that it is considering its options after Britvic rejected two takeover bids (the latest offer was 1250 pence per share). Britvic stated that these offers clearly undervalued the company and its prospects.
Britvic's stock price soared by 10% to over 1200 pence on Monday morning in London.
Carlsberg has established bottling partnerships with PepsiCo in five markets, including Norway and Sweden. The company said that if the transaction continues, the exemption agreement reached with PepsiCo will take effect.
Carlsberg said it is considering its next steps. Under UK acquisition regulations, the company must submit a formal takeover bid before July 19, otherwise the acquisition will be abandoned.