UK: S&N claims 92.3% of Bulmer and closes offer
S&N said it had received valid acceptances for 88.1% of the issued ordinary share capital in Bulmers. The brewer said the offer had now closed and any acceptances received after 3.00pm London time on July 17 would be invalid and not be accepted.
S&N announced on April 29 that it had acquired 2,205,238 ordinary shares in Bulmer representing approximately 4.2% of the total, so the brewer now owns, or has received valid acceptances for, a total of 49,027,927 Bulmers ordinary shares, representing 92.3% of the total capital.
Fitch Ratings has cut its debt rating on brewer, Scottish & Newcastle (S&N), from BBB to BBB-minus....
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