S&N enters discussions with Carlsberg & Heineken

17 January, 2008

Scottish & Newcastle has agreed to enter into discussions with Heineken and Carlsberg over its takeover bid after the companies increased their offer to 800 pence per share.

The Edinburgh-based brewer dismissed previous advances by the two companies, known as the Consortium, stating that the last offer of 780 pence per share "undervalued" the company.

However, the increase of 20 pence per share, to be funded by Carlsberg, led S&N to announce they would enter into negotiations today.

A "put up or shut up" deadline of Jan 21, set by the Takeover Panel, has also been extended to noon on Jan 24.

Carlsberg said the proposal was subject to certain pre-conditions, including satisfactory completion of limited due diligence and S&N advised its shareholders that there was "no certainty" that a formal offer will be made.




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Lifting the spirits

I were to sum up alcohol sales over Christmas 2017 in one word, it would be “gin”. At Nielsen, we define the Christmas period as the 12 weeks to December 30 and in that time gin sales were £199.4 million, which means they increased by £55.4 million compared with Christmas 2016. There’s no sign the bubble is about to burst either. Growth at Christmas 2016 was £22.4 million, so gin has increased its value growth nearly two-and-a-half times in a year. The spirit added more value to
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