Business
Citi sees bigger takeover offer coming for Coca-Cola Amatil (ASX:CCL) share price
The Coca-Cola Amatil Ltd (ASX: CCL) share price is trading flat but that’s a good outcome for the takeover target.
The CCL share price is holding at $12.94 during lunch time trade. That’s a positive because the S&P/ASX 200 Index (Index:^AXJO) lost 0.2% of its value and the stock is still trading above the offer price.
Coca-Cola Amatil received a takeover offer worth $12.75 a share from its European counterparts late last year.
Bigger takeover offer for CCL waiting to pop
Many criticized the bid as being opportunistic and have called it a lowball offer as the group has been severely impacted by COVID‐19.
The market agrees and that explains why the stock is trading around 1.5% ahead of the offer price.
Citigroup believes a…
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