PepsiCo Gives Blessing to Carlsberg’s Takeover of Britvic (1)

Carlsberg AS has secured the agreement of PepsiCo Inc for a potential £3.1 billion ($3.9 billion) takeover of the UK soft drinks manufacturer Britvic Plc.

Britvic, which makes brands such as Fruit Shoot and J2O, is the UK bottler for PepsiCo. The US soft drinks company has waived a change-of-control clause it has in its contract with Britvic, potentially smoothing the way for a takeover.

Carlsberg said on Friday it’s weighing its options after Britvic rejected two unsolicited takeover bids, the latest at 1,250 pence a share. Britvic said the offers significantly undervalue the company and its prospects.

Britvic ...