Refresco has been on the runway as far as intense M&A speculation in recent days, with hedgies and others getting what they wanted today with the €1.6bn offer from PAI Partners. This according to sources is likely to be rejected, in similar fashion to the offer from Cott Corp in July. However, the rumour is that a higher bid at €22 a share (versus the equivalent of €19.75 on the table now) could eventually be forthcoming in this bidding war situation. This may be worth waiting for as far as fans of the Dutch juice bottling group is concerned.
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