Britvic in takeover cross hairs as Carlsberg bid is snubbed

Britvic Plc (LSE:BVIC) is the latest British share to find itself in the crosshairs of foreign bidders, with the soft drinks and mixer firm revealing that Danish beer brewer Carlsberg had made a premium priced offer.

The bid, pitched at 1,250p, was unsuccessful with Britvic rejecting the offer and stating that it ‘significantly undervalued the company's worth and future prospects’.

"While there is no guarantee that any takeover will happen, the news is the latest confirmation that there are many overseas companies running the slide rule over UK PLC," said Richard Hunter at Interactive Investor.

Britvic's board was unanimous in its decision to reject Carlsberg, which now faces a deadline of July 19 to submit a firm offer or withdraw its interest entirely.

In London, the shares closed Friday 7.29% higher at 1,089p – having traded as high as 1,181p earlier in the day.