OTHER NEWS - Sept. 10, 1993
From Times Staff and Wire Reports
Cadbury Schweppes to Buy A&W; Brands Inc: The British company said its offer of $24.50 a share in cash values the White Plains, N.Y.-based root beer maker at $334 million. A&W; Brands, whose trademark has existed since 1919, will be merged into Cadbury Schweppes’ U.S. subsidiary, Lincoln Acquisition Inc. The deal would nearly double Cadbury’s share of the $47.4-billion American soft drink industry. A&W; is recommending that its shareholders accept the offer. Besides A&W; root beer and cream soda, A&W; Brands sells Squirt, Country Time Lemonade and Tetley ready-to-drink iced tea. The company’s stock surged $4 to $24.25 a share on the NASDAQ market, while Cadbury Schweppes stock edged 25 cents higher to $28.875 in NASDAQ trading.
