Business, Stock markets, Retail industry, Economics Business | The Guardian
Rolling coverage of the latest economic and financial news, including the latest retail sales and public finances dataNewsflash: soft drinks maker Britvic has rejected two takeover approaches from Danish brewer Carlsberg.Britvic has turned down an offer of £12.50 pence per share this week, which would value it at £3.1bn, having already rejected an initial proposal of £12 from Carlsberg earlier this monthThe Board together with its advisers carefully considered the Second Proposal, and concluded that it significantly undervalues Britvic, and its current and future prospects. Accordingly, the Board unanimously rejected the Second Proposal on 17 June 2024.Carlsberg believes that the Proposal represents a compelling opportunity for Britvic shareholders to realise their investment in full in cash at an attractive valuation.UK retail sales surged last month, and core retail sales that exclude auto fuel rose at a 1.2% annualized pace in May, after falling by 2.5% in April. The ONS said that sales rebounded after a wet April, and sales volumes grew across most sectors, with clothing and furniture sales rebounding strongly.Could this be the Taylor Swift effect, with people (including myself) splurging on new outfits ahead of her era’s tour, the UK leg of which is set to add £1 billion to the UK economy? Continue reading…
Rolling coverage of the latest economic and financial news, including the latest retail sales and public finances data
Newsflash: soft drinks maker Britvic has rejected two takeover approaches from Danish brewer Carlsberg.
Britvic has turned down an offer of £12.50 pence per share this week, which would value it at £3.1bn, having already rejected an initial proposal of £12 from Carlsberg earlier this month
The Board together with its advisers carefully considered the Second Proposal, and concluded that it significantly undervalues Britvic, and its current and future prospects. Accordingly, the Board unanimously rejected the Second Proposal on 17 June 2024.
Carlsberg believes that the Proposal represents a compelling opportunity for Britvic shareholders to realise their investment in full in cash at an attractive valuation.
UK retail sales surged last month, and core retail sales that exclude auto fuel rose at a 1.2% annualized pace in May, after falling by 2.5% in April. The ONS said that sales rebounded after a wet April, and sales volumes grew across most sectors, with clothing and furniture sales rebounding strongly.
Could this be the Taylor Swift effect, with people (including myself) splurging on new outfits ahead of her era’s tour, the UK leg of which is set to add £1 billion to the UK economy?
