UK: GBP8.00 "a starting point" for Carlsberg, Heineken - S&N
Whilst Scottish & Newcastle has said that it is still not prepared to talk to the Carlsberg/Heineken consortium regarding its prospective takeover, the UK brewer has set a "starting point" for potential negotiations.
S&N has today (10 January) rejected the latest offer of GBP7.80 per share from the two European brewers. In a statement, the UK company said it is prepared to meet with the consortium only when a GBP8.00 offer is tabled.
Speaking to just-drinks today, a spokesperson for S&N said: "GBP8.00 just about gets you through the door." The spokesperson highlighted that the majority of the consortium's improved offer - up from GBP7.50 proposed in November - was eaten up by currency fluctuations between November and this week.
"GBP8.00 per share is a starting point," the spokesperson continued. "It is not a finishing point."
Carlsberg and Heineken have until 21 January to table a formal bid. The deadline, set by the UK Takeover Panel, dictates that Carlsberg and Heineken would not be permitted to table a further bid after the deadline for six months.
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