S and N shareholders approve takeover by Carlsberg, Heineken

0 Comments | AFP, March, 2008

LONDON (AFP) — Shareholders in British brewer Scottish and Newcastle on Monday overwhelmingly approved a takeover offer from rivals Carlsberg and Heineken, Scottish and Newcastle said.

The vote was taken at a special shareholder general assembly in Edinburgh, Scotland. The company said that with the resolution of final legal matters the transaction should be completed by April 28.

After months of resistance, Scottish and Newcastle in late January accepted an offer from Carlsberg of Denmark and Heineken of the Netherlands worth 800 pence a share, or 7.8 billion pounds (9.8 billion euros, 15.6 billion dollars).

Under terms of an agreement between Carlsberg and Heineken, the Danish group will take control of the Kronenbourg brand, as well as Scottish and...