UK: Carlsberg rating up on S&N merger talk
Carlsberg has had its recommendation raised. Dresdner Kleinwort Wasserstein yesterday (15 August) upgraded the Danish brewer to 'add,' saying that a nil-premium merger with Scottish & Newcastle was a possibility.
In a research note, the investment bank said: "We see a nil-premium merger with Scottish & Newcastle as by far the most likely outcome, bringing BBH (Baltic Beverages Holding - a 50:50 joint venture between the two brewers) under one owner for the first time since the early 1990s."
Dresdner also increased the target price for Carlsberg's shares to DKK380 from DKK315.
The investment bank maintained a 'hold' rating on Scottish & Newcastle shares and a 460 pence price target.
Carlsberg has finally hooked up with a state-owned Vietnamese brewer....
Carlsberg's rating has been lowered following its disappointing Q1 figures earlier this week....
Carlsberg said today that global beer volume showed a 20% increase in the first quarter of the year driven by strong organic growth in BBH as well as a considerable contribution from acquisitions, inc...
Scottish & Newcastle and Carlsberg said today that their Eastern European joint venture Baltic Beverage Holdings had seen sales volumes lift 14% in the first quarter of the year, compared to the same ...
Carlsberg has appointed a managing director for its Chinese operations....
Carlsberg has increased its ownership in Carlsberg Brewery Malaysia Berhad from 49.66% to 51%. The investment amounts to approximately US$6m....
Baltika has bought into a Siberian brewer....
The Bosnian government has put a majority stake in the country's brewery Banjalucka Pivara up for sale. Previous efforts to privatise the brewer have failed....
- Analysis - Remy's Cognac "dead-cat bounce"
- Comment - How Hand-Made is Tito's Handmade Vodka?
- Heineken to stay "active player" in beer M&A - CFO
- Diageo's future brighter than present suggests
- Diageo's Q1 Results by Region
- Moët Hennessy unveils first Travel Retail outlet
- United Spirits sees Q1 net loss
- Beam Suntory, Edrington part ways in Travel Retail
- Diageo puts Beckham centre stage in Haig Club ad
- Smirnoff Ice gets India launch