Shareholders in Britvic have overwhelmingly given the thumbs-up to Carlsberg’s £3.3bn bid to buy the UK soft drinks maker.
Some 165 million votes – 99.7% of those cast – were in favour of the transaction proceeding, Britvic said in a stock exchange filing on Tuesday (27 August).
In total, 83% of Britvic shareholders voted for the deal, it added.
The resolution was therefore passed, paving the way for the Danish brewer to complete its takeover. The deal is expected to close in the first quarter of 2025, subject to regulatory clearance.
Carlsberg’s proposal was greenlit by Britvic’s board in July, after the Tuborg brewer upped its bid to £12.90 per share, with Britvic also agreeing to pay shareholders a 25p per share dividend.
Two earlier bids, of £12.50 per share and £12 per share, were rejected by Britvic in June.
Carlsberg plans to roll its UK Carlsberg-Marston’s business into that of Britvic, creating a joint company called Carlsberg Britvic.
It has also agreed to pay £206m to buy out Marston’s remaining 40% stake in the joint venture.
The management team of Carlsberg Britvic is expected to be made up of individuals from Carlsberg, Carlsberg Marston’s and Britvic.
Britvic’s share price remained unmoved during lunchtime trading today (27 August).
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