AMSTERDAM, April 12 Dutch drinks bottler
Refresco said on Wednesday it had rejected a 1.4
billion euro ($1.48 billion) takeover offer from French private
equity investor PAI Partners after its board concluded the offer
"Refresco has informed PAI that the proposed terms and
conditions did not merit any further investigation and have
accordingly rejected the proposal," the company said.
Its shares were up 10 percent to 16.68 euros as of 1028 GMT,
which valued the company at around 1.35 billion euros, shortly
after Refresco issued its statement.
At Tuesday's close, Refresco was valued at 1.21 billion
The company employs some 5,500 people and has production
facilities in the Benelux countries, Finland, France, Germany,
Italy, Poland, Britain and the United States.
In 2016, it reported a net profit of 81.5 million euros on
revenue of 2.1 billion euros.
($1 = 0.9432 euros)
(Reporting by Thomas Escritt; editing by Jason Neely)