- Analysts "bemused" by offer
- Both companies are PepsiCo bottlers
Danish brewing giant Carlsberg (DK:CARL) is having trouble convincing the market that an acquisition of soft drinks maker Britvic (BVIC) wouldn't prove a costly error, with investors giving the takeover attempt a resolute thumbs down.
The two companies’ shares have moved in opposite directions since it was revealed on 21 June that Britvic rejected two takeover proposals – at 1,200p and 1,250p a share – from the Tuborg and Kronenbourg owner earlier in the month. Over the past four weeks, Britvic is up by almost a quarter while Carlsberg has lost 9 per cent of its market value. Britvic has also suspended its buyback programme in light of the approaches.