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The Coca-Cola Co and Monster Beverage Corp enter into long-term strategic partnership


Thursday, 14 Aug 2014 04:37pm EDT 

The Coca-Cola Co:Says the company and Monster Beverage Corp announced that they have entered into definitive agreements for a long-term strategic partnership.Says it will acquire an about 16.7 pct ownership interest in Monster (post issuance) and will have two directors on Monster's Board of Directors.Expects to account for its investment in Monster under the equity accounting method.Says it will transfer ownership of its worldwide energy business, including NOS, Full Throttle, Burn, Mother, Play and Power Play, and Relentless, to Monster.Monster will transfer its non-energy business, including Hansen's Natural Sodas, Peace Tea, Hubert's Lemonade and Hansen's Juice Products, to The Coca-Cola Co.Says the company and Monster will amend their current distribution agreement in the U.S. and Canada by expanding into additional territories and entering into long-term agreements.The Coca-Cola Co will become Monster's preferred distribution partner globally and Monster will become The Coca-Cola Co's exclusive energy play.Pursuant to the terms of the transaction agreements, at the closing, the Coca-Cola Co will make a net cash payment of $2.15 billion and transfer its worldwide energy business to Monster.In exchange, Monster will issue to The Coca-Cola Co the shares of Monster common stock, transfer its non-energy business to The Coca-Cola Co, and enter into expanded distribution arrangements.Transaction is expected to close late in 2014. 

Company Quote

42.07
-0.32 -0.75%
10:34am EST