Britvic to be Acquired by Carlsberg in a $4 Billion Deal Following Enhanced Proposal

• Carlsberg has made a sweetened takeover bid of £3.28 billion ($4.2 billion) for soft drinks maker Britvic.
• The proposed deal will result in a larger international group that is well-positioned to seize growth prospects across various beverage categories, according to Ian Durant, the non-executive chair of Britvic.

Carlsberg has made a sweetened takeover bid of £3.28 billion ($4.2 billion) for soft drinks maker Britvic, which was announced on Monday.

The deal agreed included a small dividend that gave shareholders 1,315 pence per share, in addition to the 1,290 pence per share offered for Britvic.

In June, Britvic rejected an enhanced cash takeover bid from Carlsberg, which was worth 1,250 pence per share. The company stated that the proposal did not accurately value its current and future prospects, and it also rejected Carlsberg's previous June 6 offer of 1,200 pence per share.

Ian Durant, the non-executive chair of Britvic, stated that the proposed deal would result in an expanded international organization that is well-positioned to seize growth prospects in various drinks markets. He also mentioned Carlsberg's partnership with PepsiCo, which he said would provide the combined group with a solid foundation for continued achievement.

The merger of Britvic's soft drinks portfolio with Carlsberg's beer portfolio and distribution capabilities will result in a stronger proposition in the UK and Western Europe, according to Carlsberg CEO Jacob Aarup-Andersen.

PepsiCo is crucial to the agreement, as Britvic handles the distribution of PepsiCo's brands in the U.K. and Ireland. Earlier this year, Carlsberg and PepsiCo decided to eliminate a "change of control clause" in their bottling contract.