CCA Rejects Lion Nathan But Persistence Is Expected

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Australian soft drinks major Coca-Cola Amatil (CCA) has turned down an AUD7.6bn (US$4.92bn) merger offering from compatriot brewing giant Lion Nathan. The offer by Lion Nathan, which is 46%-owned by Japanese brewery Kirin, has been rejected by CCA's 30%-owner The Coca-Cola Company (TCCC). The US behemoth is thought to be both displeased with the offer price and unhappy about the prospect of generating further ties with the brewing industry. However, Lion Nathan - keen to create an Australian beverage titan - is unlikely to let the approach drop.