A takeover battle is brewing between Lion Nathan and the Coca-Cola Amatil soft drinks group.
Lion Nathan has launched a cash and shares takeover bid that values the group at up to $A7.6 billion.
The brewer says it would create a leading Australian and New Zealand beverage company with synergy benefits of between $A100 - $A130 million.
But Coca-Cola Amatil says the offer price is too low compared to recent acquistions in the beverage industry.
Lion says it has secured $A800 million required to fund the transaction.
Coca-Cola Amatil's shares rose 15% to $A9.55 on the news.
