Carlsberg eyes UK Pepsi deal in billion buyout

Danish brewery giant Carlsberg may soon produce Pepsi in the UK if it takes over British soft drink manufacturer Britvic. PepsiCo has surrendered a clause allowing an exit from its licensing deal with Britvic in case of new owners, as per Carlsberg’s announcement. However, Carlsberg’s initial multi-billion bid for Britvic, around 27 billion kroner, was rejected. The Danish company is considering its next steps, with a new offer, if any, required by July 19. Carlsberg emphasizes a disciplined approach to acquisitions, proceeding only if the deal is strategically and economically attractive. Any potential bid is expected to be all-cash and fully debt-financed. Following the news, Carlsberg’s stock plummeted by 9.3 percent on Friday and continued to decline on Monday.