$2.3b bid for Huiyuan

SHANGHAI: The world's biggest beverage maker Coca-Cola has offered to buy China's Huiyuan Juice for $2.3 billion, 300 percent more than its last closing price.

The Atlanta-based company would acquire Hong Kong-listed Huiyuan for HK$17.9 billion, or 12.20 cents per share - almost triple Huiyuan's Friday closing price of HK$4.14. Huiyuan shares soared 164.3 percent yesterday to close at HK$10.94.

Stock analysts in China said the high offer price reflects the premium on Huiyuan's brand in the Chinese market.