Business
Australian shares fall as Coca-Cola Amatil receives $9.3b takeover bid – ABC News
Australian shares finish trading lower, while Westpac announces a $1.2 billion hit to its cash earnings and Coca-Cola European Partners makes a $9.3b offer to buy…
Despite a strong start, the Australian share market lost all its momentum in afternoon trade.
Key points:
- The ASX 200 has risen 6.4pc since the month began
- The Australian dollar has lifted 1.5pc since January 1
- US-based Coca-Cola owns a 30.8pc stake in Sydney-based Amatil
The ASX 200 dropped 11 points (-0.2pc) to close at 6,156 points, while the broader All Ordinaries index slipped (-0.3pc) to 6,357.
Earlier on Monday, the benchmark index lifted by more than 0.6 per cent at its peak.
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