Britvic takeover rumours intensify after mystery stake buy | FT Alphaville

Britvic takeover rumours intensify after mystery stake buy

Britvic, the soft drinks company and rumoured takeover target, is likely to be back in the speculative spotlight this morning. After the market closed last night rumours emerged that a mystery stakebuilder had raided the market for stock. Traders said the buyer appeared to have picked up about 25m shares, or 11.5 per cent of the company, at 280p a share. That was a 6.5 per cent premium to Britvic’s closing price of 263p, down 0.7 per cent. Takeover rumours have been swirling round Britvic for months. In October, talks between Britvic and Permira, the private equity group, collapsed. In past weeks, its shares have moved higher amid speculation that PAI Partners, another venture capital house, was plotting a bid. Sector watchers said it was possible that 5 per cent shareholder Pepsi had increased its stake in an effort to safeguard Brtivic’s independence.