Carlsberg tanks 8%, set for largest drop in four years, after Britvic rejects $3.9 billion takeover

Carlsberg shares were on course for their largest single-day decline in more than four years on Friday, after the British soft drinks maker Britvic said it had rejected the Danish brewer’s £3.11 billion ($3.9 billion) takeover proposal.

Shares of Carlsberg were down by 8.7% at 09:04 a.m. London time, according to LSEG data. This is the company’s largest single-day share drop since March 12, 2020, when stock fell 8.77%.

Britvic surged by 12.5% on the back of the same news.

This breaking news story is being updated.