Business
Fair, not full: analysts weigh in on Coca-Cola takeover – The Australian Financial Review
Analysts across the market all seem to be on the same page when it comes to Coca-Cola European Partners’ $9.3 billion bid for ASX-listed Coca-Cola Amatil.
Meanwhile, low funding costs globally in conjunction with “lack of organic growth options in the core portfolio provide appeal,” Macquarie said in a note to clients on Tuesday.
Citi thinks the bid has a 90 per cent chance of proceeding and similar transactions historically were priced at 11.5 times earnings, while this one was sitting at 11.4 times on Citi’s estimates.
“There is an argument to suggest historical multiples are not representative given the low interest rate environment globally and…
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