Coca Cola (ASX:CCL)receives $9.3b takeover bid from Coca Cola European Partners

Company News

by Anna Napoli

Coca Cola Amatil (ASX:CCL) has received a non-binding indicative proposal from Coca Cola European Partners (CCEP) of $12.75 cash per share for the acquisition of all of the issued shares held by independent shareholders of Amatil pursuant to a scheme of arrangement.

The Proposal contemplates CCEP entering into a separate agreement to acquire The Coca-Cola Company shares in Amatil.

The company has agreed to allow the bidder to carry out confirmatory due diligence.

Coca-Cola Amatil said directors intended to unanimously recommend the proposed scheme, subject to due diligence and conditions.

Shares in Coca Cola Amatil (ASX:CCL) are trading 14.7 per cent higher at $12.33