Breaking news as the Wall Street Journal has reported that Coca-Cola is in talks to buy Monster Beverage. The energy drink giant has a market capitalization of more than $11 billion and would be the largest brand acquisition for Coke. Shares of Monster Beverage have skyrocketed on the news, fluctuating between $75 and $79 per share.
Monster has seen record growth within the past year with annual revenue reaching $1.7 billion in 2011, up 31 percent from the previous year. The company reported fourth quarter gross sales last year of $467.3 million, up 28 percent as compared to the same period in 2010.
BevNET is continuing to follow this story.
UPDATE: The Coca-Cola Company issued a statement denying any acquisition talks.