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UK: Burn Stewart receives takeover approach

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Shares in the Scotch whisky producer, Burn Stewart Distillers, have surged on the news that the company has received a takeover approach. Shares in Burn Stewart, which specialises in the own label spirits market, leapt by 24% early on Tuesday morning on the news. At Monday's close the company was valued at £20.7m ($29.97m).

The company issued the following statement: "The board of Burn Stewart Distillers Plc announces that the company has received an approach which may or may not lead to an offer being made for the company. The board, and its financial advisers Noble Grossart Limited, strongly advise shareholders to take no action in respect of their shareholdings."


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