UK Soda Makers Britvic, AG Barr Call Off $2.2B Merger

Law360, New York (July 11, 2013, 2:21 PM EDT) -- U.K. soft drink maker AG Barr PLC has dropped a bid to merge with larger British rival Britvic PLC after Britvic's board rejected a sweetened offer by AG Barr, the companies confirmed in regulatory filings Thursday.

After the U.K.'s Competition Commission officially cleared a preliminary deal on Tuesday, AG Barr proposed a stock merger with Britvic shareholders owning 65 percent of the new company. The offer was slightly more favorable for Britvic than AG Barr's initial offer in November, a deal valued at £1.4 billion ($2.1...
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