IRN-Bru maker AG Barr's reverse takeover of Britvic is getting investor approval, but the combined company is already the subject of bid speculation after reports that Japan's Suntory is to float its food and non-alcoholic business.
Suntory, which owns whisky business Morrison Bowmore in Scotland, is thought to be aiming to raise up to 500 billion yen (£3.7bn) from the initial public offering.
Damian McNeela, analyst at Panmure Gordon, wrote in a note for clients: "While unconfirmed at this stage, it is thought that proceeds could be used to fund international acquisitions.
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