French buyout firm PAI Partners is preparing a takeover bid for struggling soft drinks firm Britvic. Britvic has just issues its third profit warning in three months.  However, any bidder must also negotiate with PepsiCo, which has a bottling and distribution agreement with Britvic for the UK. The company’s decline is due to changing tastes as customers switch from fizzy drinks to mineral water and non-carbonated beverages. The Sunday Times 28/5/06 page 2 (Business)