ATLANTA — The Associated Press is reporting that Coca-Cola Co. announced it would withdraw and refile forms with the Federal Trade Commission, giving the FTC more time to look at its proposed $3.4 million merger with its largest bottler, Coca-Cola Enterprises.
The merger received initial approval earlier this year; soon after Coke notified the FTC of its pending deal, the agency greenlighted the merger of rivals PepsiCo and Pepsi Bottling Co., that company's largest bottler. The PepsiCo/PBG deal had been on the table long before the Coke merger became public.
After discussion with the agencies, it said it will refile the documents on Monday. After the notification and report forms are filed, the FTC has a 30-day period to determine if they need more information or if they will close the investigation, the AP reported.
Coca-Cola said in a statement it "remains committed to working cooperatively with the FTC and Canadian competition authorities."
The company, based in Atlanta, said it continues to expect the deal will close in the fourth quarter.
Coca-Cola said in February that it would buy the North American operations of Coca-Cola Enterprises Inc., its biggest bottler, for $3.4 billion. It would also assume $8.88 billion in debt.
The deal followed PepsiCo's agreement with two of its largest bottlers, Pepsi Bottling Group and PepsiAmericas, to control 80 percent of domestic distribution for $7.8 billion.