Britvic, a U.K. soft-drink company, has rejected an improved offer from Danish brewer Carlsberg. The offer values Britvic at £3.11 billion ($3.94 billion). Britvic received the unsolicited cash offer of 1,250 pence a share on June 11. This offer came after Carlsberg’s previous offer of 1,200 pence a share was rejected. The details of the improved offer have not been disclosed.
