Brewer Scottish & Newcastle accepts Carlsberg-Heineken takeover bid

0 Comments | AFP, January, 2008

LONDON (AFP) — British brewer Scottish & Newcastle said Friday it had accepted a 7.8 billion pound (10.5 billion euro, 15.5 billion dollar) takeover bid by Carlsberg of Denmark and Heineken of the Netherlands.

The deal, announced in a joint statement to the London stock exchange, is worth 800 pence per share.

The Scottish-based brewer, which makes brands including Kronenbourg 1664 and Foster's, had rejected three earlier offers from its rivals including one earlier this month worth 780 pence per share or 7.6 billion pounds.

"The board believes that the consortium's offer delivers a fair value for S&N, reflecting its growth prospects," its chairman Sir Brian Stewart said as the move was announced.

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