British soft drinks group Britvic said on Friday that it had rejected a takeover offer from Danish brewer Carlsberg, believing it to significantly undervalue the company.

In response to speculation in the press, the owner of the Teisseire and Pressade brands, among others, said that the unsolicited offer had been made on the basis of a price of 1250 pence per share.

In Britvic's view, this offer - which follows a previous unsuccessful bid of 1,200 pence per share - significantly undervalues the company, its current activities and its development prospects.

In a brief statement, the company's Board of Directors said it remained confident about the group's future.

Under UK takeover law, Carlsberg has until July 19 to make a binding offer for Britvic, or to announce that it does not intend to make an offer.

Following these announcements, Britvic shares rose by more than 6% to 1077 pence on the London Stock Exchange on Friday. In Copenhagen, Carlsberg shares fell by over 7%.

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