CCEP has increased its offer price to independent shareholders around 6% to $13.50 from$12.75, with the consideration to be reduced by the cash amount of Coca-Cola Amatil's FY20 final dividend (consistent with the first offer).
CCEP has declared this is its best and final offer.
Coca-Cola Amatil's related party committee and Group MD unanimously consider the revised scheme in the best interest of independent shareholders.
The indicative timetable for the CCEP proposed scheme of arrangement has put the implementation date as late April/early May 2021.
Morgan Stanley maintains its rating as Equal-weight with a target price of $12.75. Industry view: Cautious.
Sector: Food, Beverage & Tobacco.
Target price is $12.75.Current Price is $13.41. Difference: ($0.66) - (brackets indicate current price is over target). If CCL meets the Morgan Stanley target it will return approximately -5% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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