Carlsberg shares fell sharply on Friday after the British soft drinks maker Britvic said it had rejected the Danish brewer's £3.11 billion ($3.9 billion) takeover proposal.
Carlsberg confirmed the rejection of its second proposal, which it qualified as "a compelling opportunity for Britvic shareholders to realise their investment in full in cash at an attractive valuation."Shares of Carlsberg were down 9% by the close, with Britvic surging by the same amount. Earlier in the session,it had on June 17 refused an improved cash takeover bid from Carlsberg offering 1,250 pence per share of the British soft drinks maker.
Carlsberg confirmed the rejection of its second proposal, which it qualified as "a compelling opportunity for Britvic shareholders to realise their investment in full in cash at an attractive valuation." The Danish brewer said it will be considering its position.long-term growth strategy outlined earlier this year — a key point of which is expanding beyond its core portfolio of beers, lagers and ales. The company's "beyond beer" product portfolio, including the Somersby apple cider and Garage hard seltzer brands, represented just 2% of its total volumes as of February.
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