Why Coca-Cola Amatil (ASX:CCL) shares days are numbered

Coca-Cola Amatil Ltd (ASX: CCL) shares are set to finish up on the ASX as the NSW Supreme Court approved its takeover by CCEP.

Rows of Coca-Cola bottles

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Coca-Cola Amatil Ltd (ASX: CCL) shares' days on the ASX are numbered after the Aussie bottling company provided an update on its proposed takeover.

Why are Coca-Cola Amatil shares on watch?

Coca-Cola this afternoon provided an update on the proposed takeover by Coca-Cola European Partners PLC (NYSE: CCEP). Importantly, the Supreme Court of New South Wales has today made orders approving the Scheme of Arrangement for CCEP to acquire all Coca-Cola Amatil shares.

The Aussie company will lodge an office copy of the Court orders with the Australian Securities and Investments Commission (ASIC). Shareholders will receive $13.32 cash per share once the Scheme becomes legally effective. The final cash payment is due on the Scheme's Implementation Date, currently slated for 10 May 2021.

Shareholders will receive the fully franked final dividend of $0.18 per share as announced on 18 February 2021 for shares held at yesterday's record date.

Today's news means CCEP can finally acquire Coca-Cola Amatil shares. Tomorrow's market close will see the company's shares suspended from trading.

What are the details of the takeover?

Coca-Cola Amatil shares have surged higher in 2021 on the back of takeover developments. CCEP issued a best and final offer to acquire the company for $13.50 per share, or $9.8 billion, in mid-February. That comprises both the $13.32 cash payment and $0.18 per share dividend payment.

That came after several months of pressure on the European group to up its offer from a variety of stakeholders. CCEP ultimately upped its offer on the back of stronger trading conditions for the business in Australia and New Zealand.

Coca-Cola Amatil shares have remained largely unchanged this afternoon. That's largely thanks to these approvals being a formality and already priced in. That means tomorrow is set to be the final trading day for the Aussie bottling company. It brings to a close a long chapter for the group that listed in 1970 and became Allied Manufacturing and Trade Industries Limited (AMATIL) in 1977.

Should you invest $1,000 in Opthea Limited right now?

Before you buy Opthea Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Opthea Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Mergers & Acquisitions

a group of business people sit dejectedly around a table, each expressing desolation, sadness and disappointment by holding their head in their hands, casting their gazes down and looking very glum.
Mergers & Acquisitions

This ASX 300 share is sinking 33% on takeover collapse fears

Is this takeover dead? Let's find out what is happening.

Read more »

A man holds his head in his hands, despairing at the bad result he's reading on his computer.
Mergers & Acquisitions

Why is this ASX 200 stock crashing 15%?

What has sent investors rushing to the exits? Let's find out.

Read more »

a woman drawing image on wall of big fish about to eat a small fish
Mergers & Acquisitions

Guess which ASX All Ords stock just received a takeover offer

A private equity firm has its eyes on this stock.

Read more »

Man with rocket wings which have flames coming out of them.
Mergers & Acquisitions

Guess which ASX stock just rocketed 21% on takeover news

Investors are piling into the ASX stock following a confirmed takeover offer.

Read more »

Miner looking at a tablet.
Mergers & Acquisitions

Gold Road shares surge 10% on $3.7 billion takeover offer

The ASX 200 gold stock is soaring after finding itself in the acquisition crosshairs.

Read more »

A corporate team or board stands together and looks out the window.
Technology Shares

WiseTech shares charge higher on $3.5b acquisition news

This tech stock is ending the week positively. But why?

Read more »

Two CEOs shaking hands on a deal.
Financial Shares

This ASX 300 stock is jumping on surprise merger news

This stock could be having a very big makeover.

Read more »

A graphic showing three hands holding red paddles with the word BID, indicating a bidding war for an ASX share company
Mergers & Acquisitions

Guess which ASX All Ords stock just received a new takeover offer

Let's see which stock is in the crosshairs of a rival.

Read more »