premise: China has rejected Coca-Cola's planned $2.4 billion acquisition of top juice maker Huiyuan Juice, saying the deal would have been bad for competition. The acquisition by Coca-Cola would have been the largest-ever takeover of a Chinese company by a foreign rival, and is the latest rebuff for an overseas buyer of a Chinese company. "This just shows that China is still not open to allowing the takeover of a national brand," said Jeffery Lau, an analyst with Polaris Capital. "But this is not exactly a huge surprise to the market, protectionism has been on the rise everywhere this year. This also explains why the stock has been trading at a nearly 20 percent discount to the takeover price," he said.
hypothesis: China refused Coca-Cola's bid to take over a juice company to protect its market.