Talks between Scottish & Newcastle and Six Continents regarding the merger of their pub estates have broken down, according to reports in today's UK press. S&N is thought to be rethinking its plans to refinance its pub business after what are believed to have been three months of talks with Six Continents. The merged business would have been the largest pub group in the UK, worth an estimated £4.5 billion with 3,400 managed pubs and turnover of £2.4 billion.