SYDNEY: Takeover target Neverfail Springwater Ltd tried again yesterday to get remaining shareholders to reject Coca-Cola Amatil Ltd’s hostile bid, saying the bottler’s current majority stake gave it the best of both worlds.
C-C Amatil, Asia-Pacific’s biggest soft drink bottler, now has 76% of its target, up from 73% on Monday, but needs 90% to trigger compulsory acquisition rules and move to outright ownership. Its offer, which values water and cooler distributor Neverfail at A$226mil, closes on Friday.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
