Coca-Cola Amatil and Coca-Cola European Partners have pushed back the timeline for a proposed $9 billion takeover by a month amid growing concerns the offer will not succeed at the current price.

Amatil, which received a $12.75 a share offer from Coca-Cola European Partners in October, originally planned to send a draft scheme of arrangement booklet and independent expert’s report to the Australian Securities and Investments Commission by mid-January, but has postponed the draft until mid February.