S&N rejects formal bid from Carlsberg & Heineken

25 October, 2007

Scottish & Newcastle has rejected a "highly conditional" take-over offer from Carlsberg and Heineken in which they offered 720 pence per share.

The Consortium sent a letter to S&N's chairman Sir Brian Stewart earlier today with the conditional proposal, but it was followed by a statement by S&N urging shareholders to "take no action."

Stewart said: "This unsolicited and derisory proposal is an effort to get S&N's unique portfolio of businesses on the cheap. We will continue to take all actions to maximise shareholder value."

However, in a statement, the consortium said it: "strongly believes that its proposal is strategically compelling and that a recommended transaction is in the best interests of S&N's shareholders."




Bookmark this


Site Search

COMMENT

Agreeing to disagree

Disagreeing about wine is a fact of wine-trade life, like drugs in sport or corruption in politics. Because taste is entirely subjective, debates about our personal preferences are as inevitable as they are interminable. Indeed, these long-winded, wine-fuelled arguments are precisely what make our jobs so much fun.

Click for more »
Upcoming events

Polls

Is blended Scotch overshadowed by single malt in retailers?

  • Yes
  • No
  • Don't know

Facebook

Twitter