Scottish & Newcastle in talks on Carlsberg-Heineken takeover

0 Comments | AFP, January, 2008

LONDON (AFP) — British brewer Scottish & Newcastle, reversing an earlier stand, said Thursday it was now in talks on a possible takeover by Danish group Carlsberg and Dutch peer Heineken for 7.8 billion pounds (10.4 billion euros, 15.4 billion dollars).

"Scottish & Newcastle plc and Carlsberg and Heineken confirm that they have entered into discussions in relation to a possible recommended offer for S & N at 800 pence per share," the groups said in a brief statement.

"The consortium's proposal is subject to certain pre-conditions, including satisfactory completion of limited due diligence."

S & N, maker of Foster's lager and Strongbow cider, had rejected an improved offer last week worth 780 pence per share or 7.6 billion pounds. However, S & N had said it...