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Third time’s the charm. London-listed soft drinks maker Britvic (OTCQX:BTVCY) has agreed to a takeover by Danish brewer Carlsberg (OTCPK:CABGY), creating a beverage giant “with a strong platform for continued success.”
The move will help Carlsberg (OTCPK:CABGY) diversify outside of the beer market, with an expansion into non-alcoholic beverages.
The sweetened takeover bid was valued at £3.28B ($4.2B) after two earlier rejections of offers that Britvic (OTCQX:BTVCY) deemed undervalued.
The new combination will also involve PepsiCo (NASDAQ:PEP), the maker of Mountain Dew, 7UP and Gatorade, given its long-running bottling arrangements with Britvic (OTCQX:BTVCY) over production, distribution and sales in the U.K.