07:47 AM EDT, 06/24/2024 (MT Newswires) -- PepsiCo ( PEP ) has agreed to waive a change-of-control clause in its bottling deal with Britvic, allowing Carlsberg to raise its takeover bid for the UK bottler, media reports said, citing Carlsberg.

PepsiCo's ( PEP ) deal with Britvic has a change-of-control clause that would allow termination of the agreement if a change of ownership happens, reports said.

The waiver would take effect if Carlsberg successfully acquires Britvic, according to reports.

Britvic previously rejected Carlsberg's bid of 3.1 billion euros ($3.3 billion) and the waiver could pave the way for a higher offer, reports said.

None of the companies immediately responded to MT Newswires' requests for comment.

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