CCLAF - Coca-Cola's European bottler ups bid for Coca-Cola Amatil to $7.7B

Coca-Cola European Partners (CCEP) says it raised its takeover offer for Australian bottler Coca-Cola Amatil (CCLAF) to A$13.50/share (US$10.48/share) from A$12.75 offered last October, citing an improved outlook for Australia and New Zealand since the deal was first announced.A separate agreement for the European bottler to acquire other Amatil shares from U.S.-based Coca-Cola Co. (KO), which owns a 31% stake, is unchanged.The Australian bottler says it backs the new final offer, which values Amatil at A$9.93B (US$7.7B) and is 5.9% above the initial offer price."The economic outlook for Australia and New Zealand has improved since the announcement of the original CCEP proposal, and recent trading validates our strategy and demonstrates our strong recovery," Amatil Chairwoman Ilana Atlas says.Coca-Cola European Partners is poised for a year of growth in 2021, Retirement Pot writes in a bullish analysis published on Seeking Alpha.

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Coca-Cola's European bottler ups bid for Coca-Cola Amatil to $7.7B