Beverage major The Coca-Cola Company (KO) recently revealed that it has acquired the remaining 85% stake in sports performance and hydration beverages provider BODYARMOR for $5.6 billion in cash. The initial 15% was acquired in 2018. Following the news, shares of the company declined marginally on Monday. The stock, however, pared its losses slightly to close at $56.25 in the extended trading session. The complete acquisition of BODYARMOR will enable Coca-Cola to strengthen its sports drink offerings. Post the acquisition, the U.S. Coca-Cola bottling system will continue to distribute BODYARMOR.
https://www.tipranks.com/news/coca-cola-purchases-remaining-stake-in-bodyarmor-for-5-6b?utm_source=advfn.com&utm_medium=referral
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