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UK: Is Britvic backing down from AG Barr takeover, despite clearance?

By  |  June 11, 2013

The UK’s Competition Commission has reportedly approved for Britvic Plc to merge with AG Barr Plc, but after about a year of waiting for regulatory clearance, Britvic may no longer be interested in the deal. According to Britvic chairman Gerald Corbett, the company “is in a different place” than when the merger was first set in motion, noting that a continuation of the acquisition may not longer be as financially beneficial to the beverage giant. The two parties agreed to abandon merger plans when the Office of Fair Trading referred the case to the Competition Commission earlier this year. Reports say the combined businesses would have generated sales of about $2.3 billion, but with the latest statement from Britvic, analysts are no longer sure the acquisition will be carried out.

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