XLP - PepsiCo Waives Clause Paving Way For Carlsberg's Potential Britvic Buy | Benzinga
Danish brewer Carlsberg (OTC:CABGY) said that PepsiCo Inc (NASDAQ:PEP) has agreed to waive a clause in its bottling agreement with Britvic (OTC:BTVCY) making the British company a more appealing acquisition target.
The development follows Britvic’s rejection of a $3.9 billion bid from Carlsberg, potentially paving the way for an increased offer.
The waiver will take effect if Britvic’s board recommends and completes an acquisition by Carlsberg, Reuters reported.
Britvic’s shares surged by 10% to a record high of 1,207 pence in London following the news. The move signals Carlsberg’s ongoing ...