BUZZ-Cott Corp: Biggest intraday drop in 3 months on stock sale

Wed Mar 2, 2016 1:13pm EST
 
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** Canadian beverage maker's U.S.-listed shares down 3.5 pct at $12.14

** Stock falls as much as 7.9 pct, their biggest intraday pct loss in more than three months

** Cott to raise about $131 mln by selling 11.1 mln shares at $11.80 each to underwriters co-led by CIBC and Barclays

** About 4.4 mln shares traded, most active day since Nov 2014

** Company to use net proceeds to repay debt; had $1.65 bln total debt as of Jan. 2

** Up to Tuesday's close, stock had risen 15 pct this year