SABMiller has declined to comment on speculation suggesting the brewer is out of the Scottish & Newcastle frame, following its plans to acquire Grolsch.

SABMiller announced today (19 November) that it has reached a "conditional agreement" to acquire Grolsch for EUR816m (US$1.19bn).

The UK brewer has been linked recently with a potential 'white knight' role to snatch S&N from under the noses of Carlsberg and Heineken, who have jointly made two proposed bids for S&N in the last month.

Speaking to just-drinks today, a spokesperson for SABMiller said: "We do not comment on mergers and acquisition speculation."

However, the spokesperson added: "This transaction does not unduly limit our ability to consider other deals which may be in our shareholders' interests."

The spokesperson declined to say whether SABMiller was in current talks with S&N, who last week dismissed Carlsberg and Heineken's last bid, describing the companies as "pathetic, desperate men, clutching at straws." Carlsberg declined to comment further on the attack.