UK: Carlsberg, Heineken Scottish & Newcastle buy takes next step
The two European brewers, who braved speculation during the week that SABMiller could have been preparing an improved counter-bid for S&N, said today (22 February) that S&N has sent out the scheme document to its shareholders.
The paperwork formally recommends the brewer's consortium's offer of GBP8.00 per share for the UK brewer.
Whilst remaining subject to approval by the European Commission, the two companies said they anticipate the scheme to become effective on 28 April. S&N is scheduled to hold an EGM to finalise the matter on 31 March.
Carlsberg and Heineken's offer values S&N at GBP7.8bn (US$15.34bn).
Press reports earlier this week claimed that SABMiller was lining up a counter bid for S&N, prompting SABMiller to publicly state that, while it had considered the option, it did not intend making a move for the brewer.
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