UK: Burn Stewart receives takeover approach

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).

April 23, 2002

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.”

Stay informed for just £1! *

Get access to unbiased and data-driven news with a subscription to Just Drinks.

What’s included in your subscription:

Unlimited access to Just Drinks content including daily global news, in-depth analysis, and interviews with C-suite executives
Unbeatable coverage of categories from beer, wine and spirits to soft drinks and hot
beverages
Unrivalled drinks industry comment from Dean Best, Jessica Broadbent and leading sector specialists

Have a Subscribtion Sign in