Britvic-Barr merger on ice

 
Michael Bow
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THE TWO British firms behind soft drinks Tango and Irn-Bru yesterday delayed a proposed £1.4bn merger to give both sides more time to undertake due diligence on the deal.

Britvic, which also makes Robinsons fruit squash, and AG Barr, based in Scotland, asked the Takeover Panel to extend a deadline set for 5pm last night until 31 October.

It is understood the extension is to allow both sides to undertake a “reciprocal due diligence” exercise. A source close to the deal said: “There’s nothing to over-interpret in the delay.”