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UK: OFT takes heat for failing $2.2B Britvic/A.G. Barr merger

By  |  February 13, 2013

The offer period has officially lapsed for a proposed merger between Britvic and A.G. Barr, and Britvic’s chairman is not happy. The deal, worth about $2.2 billion, was referred to the Competition Commission after the Office of Fair Trading twice extended its review of the deal, ultimately finding cause for concern over certain brands. Britvic’s chairman reportedly “slammed” the OFT in the press, noting that the merger would have become a significant competitor to US powerhouse Coca-Cola but that the OFT “thwarted” what he considers a “really good” deal for shareholders and the industry. Britvic chief executive Paul Moody has also reportedly resigned, being replaced by Simon Litherland.

 

Full Content: Reuters

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