UK: Scottish & Newcastle bids farewell
At an extraordinary general meeting in Scotland today, shareholders voted 99.7% in favour of Carlsberg and Heineken's offer to buy the brewer for GBP8.00 per share, valuing S&N at GBP7.8bn (US$15.34bn). The decision requires further court approval, S&N said, with the final handover expected to take place on 28 April.
The decision will result in S&N's businesses in the UK and Ireland, Finland, Portugal, Belgium and India going to Heineken, with Carlsberg taking control of S&N's businesses in France, Greece, Russia, China and Vietnam.
"Though today may be an end, it is also a beginning; a new opportunity for our people across the globe - including many still based here in Scotland - to grow within a larger worldwide group," said S&N's chairman Sir Brian Stewart.
"The company may change, but Scottish & Newcastle lives on through its people."
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