Companies / United Kingdom
S&N Split Speculation Gathers Pace
April 2007 | Company News AlertSpeculation concerning a possible bid for UK brewer Scottish & Newcastle (S&N) by Anglo-South African major SABMiller, and a subsequent splitting of its assets with compatriot Diageo, has heightened after the Financial Times published an article claiming that SABMiller and Diageo had met to discuss the deal. Citing unnamed sources, the newspaper claims SABMiller is preparing an offer of GBP0.71 (US$1.42) per share for S&N, in a move valuing the brewer at GBP9bn (US$17.98bn), on completion of which spirits major Diageo would then purchase S&N's UK beer business for GBP3bn (US$5.99bn), with the French beer business offloaded - most likely
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