On 3 September 2008, Atlantic Industries, a wholly owned subsidiary of The Coca-Cola Company, agreed to buy China Huiyuan Juice for HK$17.9 billion at HK$12.20 per share, three times more than its closing price of HK$4.14 on the previous day. Its shares closed at HK$10.94 on that day.[4] The proposed takeover was subject to anti-monopoly review by the Chinese Ministry of Commerce, which was scheduled to finish on 20 March 2009.[5] On 17 March, it was reported that Coca-Cola was considering abandoning the deal, as Chinese authorities insisted on relinquishing the Huiyuan brand name after acquisition.[6] On 18 March, the Ministry of Commerce disallowed the bid, citing market competition concerns.[7][8]
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