S&N refuses revised bid

Posted on 10 Jan 2008 by The Manufacturer

Scottish & Newcastle has, once again, rejected a bid approach by Carlsberg and Heineken.

Turning down the improved proposal of 780p per share, S&N said that it would, however, be prepared to discuss a bid of at least 800p per share.

Carlsberg and Heineken now have a deadline of 1200 GMT on 21 January 2008, as implemented by the UK Takeover Panel, by which to make a formal bid.