Britvic Share Discussion Threads

[our haven] 17/12/2024 10:34

Good to see the regularly approval for the Carlsberg takeover. Small uptick as it was pretty much a forgone conclusion.

[laurence llewelyn binliner] 08/7/2024 12:09

#Typo56, it is possible, as per the recent SMDS/MNDI/IP counter bid, but a bird in the hand etc today so I am also now out, was very tempted to wait for the full amount but 6/9 months time can earn the shortfall and some elsewhere, as it turned out it was worth rolling the dice here a few more days to wait for the final Carlsberg bid..

DGE looks value at 2520 so I have added some there with my BVIC profits for free.. :o)

[typo56] 08/7/2024 11:23

Any possibility of a counterbid? If so, who from? Pepsi unlikely. DGE unlikely?

[laurence llewelyn binliner] 08/7/2024 11:11

#Typo56, thanks, that was the piece of information I was looking for, so on balance it looks like stepping off now is the right time and take your profits into the next share to capture their share price gains.. :o)

It is expected that the Scheme Document, containing further information about the Acquisition (including an expected timetable of key events) and notices of the Court Meeting and the General Meeting, together with the Forms of Proxy, will be published as soon as reasonably practicable and in any event within 28 days of this announcement..

So we should get the timetable of key dates within a month..

Then, it is expected that the Scheme will become Effective (subject to the satisfaction, among other things, of certain regulatory conditions) during the first quarter of 2025..

[typo56] 08/7/2024 09:45

"It is expected that the Scheme will become Effective (subject to the satisfaction, among other things, of certain regulatory conditions) during the first quarter of 2025."

Therefore got 6-9 months before receiving the proceeds. If you can earn more than 4% elsewhere in that time, take it. You've also got interest costs to consider if you hold as CFD/spread.

[philanderer] 08/7/2024 08:29

I'm out.

Good luck to everyone.

[laurence llewelyn binliner] 08/7/2024 08:03

The special will be in lieu of the the final dividend payable in Feb 2025..? we will have to wait and see when that goes XD to collect, or take the market price IF the share price gets closer to 1,315 (which it should) in the coming days/weeks..?

[con90210] 08/7/2024 07:47

When is this special dividend payment due then? Thought this would be nearer 1290 today!

[laurence llewelyn binliner] 08/7/2024 07:10

Same, was hoping for 1,350/1,400, but looks like this is where they topped out, the next decision is to hold it to completion and get the full 1,290 and the 25 pence special or take the market bid and move on into somewhere else..?

Not a bad problem to have mind.. :o)

[mr euro] 08/7/2024 06:54

Was hoping for more.

[laurence llewelyn binliner] 08/7/2024 06:05

There we go, 1,315 pence including a 25 pence special dividend return.. :o)Should be an interesting day..

[laurence llewelyn binliner] 06/7/2024 09:29

Locking in a profit is sensible, IF a 3rd bid does not materialise we will be back to 1000 pence PDQ, but over time the company should realise the growth potential and build the share price towards what someone else was prepared to pay after their DD..

Perhaps now the 1200/1250 valuations have been rejected we would trade higher than the previous 800-900 prior to bid range if the 3rd bid does not come..?

See what the run up to the 19th brings for us to consider and what prices the market offers up.. :o)

[philanderer] 04/7/2024 15:19

Belt and braces , I've taken 1208p on half my holding.

[philanderer] 04/7/2024 10:50

Investors Chronicle:


Investors shun Carlsberg's 'bemusing' bid for Britvic

A deal would push up leverage as the company tries to diversify its portfolio

[laurence llewelyn binliner] 03/7/2024 17:57

#Philanderer, ticking up, 1st close over 1200 pence.. :o)

Any offer for Britvic is governed by the Code. Under Rule 2.6(a) of the Code,
Carlsberg must, by not later than 5.00 p.m. on 19 July 2024 either announce a firm intention to make an offer for Britvic in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer..

[philanderer] 03/7/2024 17:04

Uncrossing trade (UT) = 362,000 @ 1207p

[laurence llewelyn binliner] 02/7/2024 16:02

Another day closer to a 3rd and possibly final bid from Carlsberg.. 1300/1350 or a knockout 1400…? :o)

Under the Proposal, eligible Britvic shareholders will be entitled to the interim dividend of 9.5 pence per share announced by Britvic on 15 May 2024 (the “FY24 Interim Dividend”), which is currently expected to be paid on 5 July 2024. Carlsberg reserves the right to reduce the terms of the Proposal by the amount of any dividend (or other distribution) which is paid or becomes payable by Britvic to its shareholders after the date of this announcement, except in respect of the FY24 Interim Dividend.

Uncertainty over the FY dividend if a bid is accepted, 23/24 pence would be a loss, but a 1400 pence bid would compensate..?

[mr euro] 02/7/2024 13:29

The thought inside Britvic is this will happen, people are looking to a joined up future and plotting their paths.

Who knows what the view is the other side of the fence, but from the Britvic's employees lens, it's a done deal.

[philanderer] 01/7/2024 23:15

Kunal Kothari, UK equities fund manager at Aviva, said Carlsberg has 'scope to be more generous' with another bid.

City analysts believe a bid of £13.50 a share may be enough to secure a deal.

Britvic shares rose 1.5 per cent in early trading but ended the day down 0.5 per cent, or 6p, at 1175p.

(Mail market report)

[laurence llewelyn binliner] 30/6/2024 13:40

#Blueclyde, indeed, I let go of my SMDS for 400 pence a few months back, but their MNDI bid saw counter offers come in from IP, then Suzano on top which fell over last week..

IF Carlsberg bid 1350/1400 then it should trade there or pretty close and the market bid is there for the taking.. :o)

[blueclyde] 30/6/2024 13:35

The beauty of this situation is that if a third bid is made I would expect the price to trade there. Does not appear to be any competition or any other factors that would stand in the way of the bid. All parties involved appear to be open to the deal but just want some more money in the table. I will say it again though, how many bids have we seen recently where the American then come in with a better offer. DS Smith, Wincanton etc and those businesses were not as strong as Britvic.

[laurence llewelyn binliner] 30/6/2024 13:28

See what comes in this week, but the deadline is 19th for their 3rd offer..

Holders can the the market price bid if it get close enough or see it through to the close IF a bid is accepted.. :o)

[blueclyde] 30/6/2024 09:54

This is good news. Everyone wants to do a deal it seems. Carlsberg should just put up 1400p and get it done. Would be pretty funny if the Americans came in now and counter bid and took it away from them. Would be chump change for them.

[philanderer] 29/6/2024 23:17

Aviva tells Carlsberg: Raise your Britvic bid - top investor says brewer CAN afford to pay more


A major investor in Britvic has called on Carlsberg to sweeten its takeover offer for the group.

Aviva, which is a top ten shareholder in Britvic, the maker of Robinsons soft drinks, said there would be benefits to a merger of the companies but that the bid price was too low.

Britvic revealed last week it had rejected two bids from the Danish brewer. The highest offer valued it at £3.1 billion. The FTSE 250 firm said it 'carefully considered' the second offer but that it was still too low to accept.

Kunal Kothari, UK equities fund manager at Aviva, said Carlsberg has 'scope to be more generous' with another bid.

He said the brewing giant could benefit significantly from a takeover – for example because the firms distribute drinks to similar customers. Kothari said: 'Whether we support the deal or not depends on whether the offer price values the business appropriately.'

He added that the current deal was not high enough because it did not take into account how Britvic's finances are expected to improve over the next few years as a standalone company.

Carlsberg has until July 19 to table a final bid. Its £3.1 billion offer, of 1250p per share, was around 29 per cent higher than Britvic's share price before speculation about a deal emerged. Last week PepsiCo, which has a bottling contract with Britvic, said it would not stand in the way. This removed a potential roadblock.


Mail on Sunday

[ygor705] 27/6/2024 08:04

I've been a holder here for over a decade. To my mind Britvic always looked a bit of a highly leveraged orphan with a balance sheet that's always looked stretched from Day 1 of its flotation. The fact that it's prospered through thick and thin is, in my view, a tribute to good management of what is undoubtedly a very profitable business sector. It is only when a third party comes along with a bid that a light comes on to illuminate what is/has really been going on in the business. Whatever happens with the Carlsberg situation, attention has now been drawn to the true worth of the Britvic business. I believe it now to be in play and its low profile share price is probably a thing of the past.