Coca-Cola (KO) Offers To Acquire China Huiyuan Juice For $2.4B
More News related to KO
- Citi Initiates Coverage on US Soft Drink Makers
- UBS Concerned with Consumer Staples; Downgrades Coke (KO), Pepsi (PEP), Kellogg (K)
- David Moenning's Daily State of the Markets: 11/18
- Notable Analyst Rating Changes 11/18: CHS, CBRL, MDTH, DIS Upgraded; KO, PEP, K, DT, ESLR Downgraded
- Morning Movers 11/18: HP (HPQ) Up on Strong Prelim Results/Guidance; Yahoo! (YHOO) Jumps After Yang Exits
More News related to Hot List
- Citi Initiates Coverage on US Soft Drink Makers
- William Blair Initiates Coverage on Data Networking Stocks
- Caris Starts Coverage on Ariba (ARBA), Concur (CNQR), salesforce.com (CRM), Taleo (TLEO)
- Oppenheimer Initiates Coverage on ViroPharma (VPHM)
- Oppenheimer Initiates Coverage on Cadence Pharmaceuticals (CADX) with an Outperform
The Coca-Cola Company (NYSE: KO) announced plans to make cash offers to purchase China Huiyuan Juice Group Limited, a Hong Kong listed company which owns the Huiyuan juice business throughout China.
The Coca-Cola Company is offering HK$12.20 per share, and an equivalent price for outstanding convertible bonds and options.
The Company has accepted irrevocable undertakings from three shareholders for acceptance of the offers, in aggregate representing approximately 66 percent of the Huiyuan shares.
Assuming full acceptance of the offers, the deal is valued at approximately US$2.4billion. The transaction is expected to be dilutive to the Company’s earnings per share by $0.03 to $0.04 in the first full year following completion of the acquisition and accretive to earnings per share in year 3 after completion.
Coca-Cola now expects to repurchase a total of $1 billion of its stock for the full year.
Related Categories
Hot ListMergers and Acquisitions
Stocks Mentioned
+2.93Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
