The week started with a possible agreement between Coca-Cola European Partners (CCEP) and its Australian peer, Coca-Cola Amatil.
CCEP announced today that was raising its initial offer by 6% per share, a boost which pushes the value of the Amatil at $7.70 billion. Amatil backs to offer, making it the largest Australian deal so far this year. After the deal was made public in October 2020, shares of Amatil gained steadily, even reaching an eight-year high.
According to experts, the deal will unite two companies that bottle and distribute Coca-Cola drinks while giving CCEP a platform to consolidate its position in Asia.
So far, CCEP revealed that would buy 10.8% of Coca-Cola’s stake in Amatil in cash, without addressing how it would purchase the rest.
Following the news, Coca-Cola Amatil stock price gained 2.13%
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Sources: reuters.com, finance.yahoo.com
