Done deal and Coca Cola Amatil will disappear as a listed ASX company by the end of the first quarter of 2021 as the odds the $12.75 a share offer for the company, shortened.
No rival bids have been whispered and takeover documentation yesterday revealed that Coca-Cola Amatil had entered into a scheme implementation deed with Coca-Cola European Partners for a shareholder vote to approve the $9.3 billion offer.
If the scheme is implemented, Amatil investors will receive $12.75 per share, less any second-half final dividend paid before the date of implementation.
It is expected that the scheme will be voted on at a meeting of shareholders in early 2021.
If that vote goes the way it looks like going then Coca-Cola Amatil could disappear from the Australian bourse as early as March 2021, under the expected timeline for the proposed sale of the business to Coca-Cola European Partners for $9.3 billion.
Coca-Cola Amatil would be liable for a break fee of $46.4 million payable to Coca-Cola European Partners (CCEP) if the transaction does not go ahead, according to the deed documentation.
CCL shares closed up 0.7% at $12.55, a substantial discount to the offer price.
It’s game over.
