Britvic (LON) announced Friday it has rejected two takeover proposals from Danish brewer Carlsberg (CSE), deeming them undervalued. The latest cash offer of £12.50 per share valued Britvic at approximately £3.1 billion. Following the announcement, Britvic shares rose nearly 7% to £10.83. Carlsberg must decide by July 19 whether to make a formal offer or walk away. Analysts at Jefferies noted the potential for a higher bid but highlighted possible antitrust scrutiny. Carlsberg’s shares dropped over 8% to DKK865.80.
