News

UK: Carlsberg, Heineken make move for Scottish & Newcastle

Most popular

Could a Pernod offload revolutionise wine?

The just-drinks Analyst returns

Why drinks companies will struggle to break Gen Z

Wine's race to the top - whither value?

How to ride the 'Gen Z' wave in the on-premise

MORE

Carlsberg and Heineken have made their widely-anticipated move for Scottish & Newcastle.

The UK-based brewer said today (25 October) that it has received - and rejected - what it called "a highly conditional proposal" from the European companies, to make a cash offer for S&N at 720 pence per share. The offer values S&N in the region of GBP6.8bn (US$13.8bn).

"The board, having consulted its advisers, has no hesitation in rejecting this proposal as it substantially undervalues the unique strengths and market positions of S&N," the company said.

Sir Brian Stewart, S&N's chairman, added: "This unsolicited and derisory proposal is an effort to get S&N's unique portfolio of businesses on the cheap. We will continue to take all actions to maximise shareholder value. I strongly urge shareholders to take no action."

S&N also said that, "for the avoidance of doubt", there was no certainty that this approach will lead to an offer being made for S&N or as to the terms on which any offer might be made.


Related Content

"The US has real brand calls. They are asking for an Avión Margarita" -  Pierre-Aymeric du Cray, VP ...

Wine, spirits associations flag need for GI recognition as UK awaits EU Brexit result

Wine, spirits associations flag need for GI recognition as UK awaits EU Brexit result...

Will Diageo's American Anthem make vodka great again? - Comment

Will Diageo's American Anthem make vodka great again? - Comment ...

Carlsberg Performance Trends 2013-2017 - results data

Carlsberg Performance Trends 2013-2017 - results data...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?