Carlsberg shares were on course for their largest single-day decline in more than four years on Friday, after the British soft drinks maker Britvic said it had…
Carlsberg shares were on course for their largest single-day decline in more than four years on Friday, after the British soft drinks maker Britvic said it had rejected the Danish brewer's £3.11 billion takeover proposal.
Shares of Carlsberg were down by 8.0% at 10:21 a.m. London time, according to LSEG data. This is the company's largest single-day share drop since March 12, 2020, when stock fell 8.77%.shares were on course for their largest single-day decline in more than four years on Friday, after the British soft drinks maker Britvic said it had rejected the Danish brewer's £3.11 billion takeover proposal.
Shares of Carlsberg were down by 8.0% at 10:21 a.m. London time, according to LSEG data. This is the company's largest single-day share drop since March 12, 2020, when stock fell 8.77%.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. It said the proposal"significantly undervalues Britvic, and its current and future prospects.
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. Comparatively, the company's largest brand, Tuborg,Feeling out of the loop? We'll catch you up on the Chicago news you need to know.
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