Coca-Cola has acquired rival drinks company Glacéau, which makes “enhanced water” drinks such as Energywater, Fruitwater and Vitaminwater. The deal gives Coca-Cola about 30% of the US market in this expanding category. The high price tag of $4.1bn (£2.07bn) reflects the dramatic growth in the sector in the last decade. India’s Tata Industries, which bought a 30% stake in Glacéau last year for $677m will now receive $1.2bn as a result of the cash deal, almost doubling its investment in just eight months. Shares in Coca-Cola rose 1.1% to $51.82. Financial Times 26/5/07 page 19 (Companies), page 31 (Wall Street) The Daily Telegraph 26/5/07 page 33 (Business) The Times 26/5/07 page 64 (Business) The Guardian 26/5/07 page 39 (Financial) The Independent 26/5/07 page 57 (Business)