Coca-Cola Amatil (ASX:CCL) share price slides as shareholders vote
Bernd Struben | April 16, 2021 10:29am |
More on: Image source: Getty Images
Coca-Cola Amatil Ltd(ASX: CCL) shares are slumping lower on Friday. At the time of writing, the Coca-Cola Amatil share price is sliding 1.26% to $13.29.
This comes as shareholders of the
S&P/ASX 200 Index (ASX: XJO) listed beverage giant are voting on the long-proposed acquisition by
Coca-Cola European Partners (CCEP).
Shareholders are meeting virtually this morning in Amatil’s Independent Shareholder Scheme Meeting, being held by management in Sydney.
What exactly are shareholders voting on?
Yesterday, after market close, Coca-Cola Amatil announced that the New Zealand Overseas Investment Office (OIO) had given the green light for CCEP to acquire up to 100% of the shares in Amatil. That ticked the last box needed to meet all the regulatory approval conditions precedent under the Implementation Deed.
ASX takes a breather after 14-month high; cryptocurrency Dogecoin soars
Posted Yesterday at 9:56pm
ThuThursday 15
updated 2
The Dow Jones index closed above 34,000 for the first time.
(
Print text only
Cancel
The Australian share market has pulled back after reaching a 14-month high yesterday, despite more records on Wall Street overnight.
Key points:
US stocks hit record levels as major companies posted strong quarterly earnings
The Dow Jones rose 0.9pc to 34,036, the S&P 500 rose 1.1pc to 4,170, and the Nasdaq rose 1.3pc to 14,039
The All Ordinaries reached a record high in yesterday s trade, but at 1:00pm AEST was down nearly 0.3 per cent to 7,296.
Asian Markets Mixed Amid Cautious Trades
CANBERA (dpa-AFX) - Asian stock markets are mixed on Friday, despite the broadly positive cues overnight from Wall Street amid strong data releases, stellar earnings from U.S. banks and a dip in long term bond yields. The markets remain cautious amid the continuing surge in coronavirus cases in the region and the possible restrictions on economic activity in several markets. Asian markets also ended mixed on Thursday.
The markets in the region are also tense about a fresh U.S.-China tussle after a Chinese diplomat indirectly warned the U.S. over strong linkages and interference over Hong Kong issues.
Coca-Cola Amatil votes in favour of European bottler s $7.68 billion takeover deal
(Reuters) - Coca-Cola Amatil said on Friday its independent shareholders voted in favour of Coca-Cola European Partners, the European bottling arm of Coca-Cola, acquiring the Australian firm for A$9.93 billion ($7.68 billion).
CCEP sweetened its takeover offer in February to A$13.5 per share from A$12.75 after reports that Amatil s major shareholders viewed the earlier offer as too low.
The deal, which would be Australia s biggest this year, will combine two companies that bottle and distribute Coca-Cola drinks, and gives CCEP a platform to consolidate in Asia.
New Zealand s Overseas Investment Office gave its approval for the deal on Wednesday but it still requires an Australian court s approval, which is scheduled for a hearing next week.
Deals of the day-Mergers and acquisitions msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.