Carlsberg, Heineken move on Scottish & Newcastle

January 18th, 2008 | Posted by Real Beer

After three months of battles, Scottish & Newcastle has agreed to enter discussions that would result in Carlsberg and Heineken taking over the UK brewing giant.

The Times Online reports:

S&N agreed to open its books after the pair increased their bid for the third time to 800p a share, ending a three-month takeover stand-off.

The group’s chairman, Sir Brian Stewart, had fiercely held out against the Dutch and Danish suitors, but sources said the two sides entered talks this week.

Heineken and Carlsberg first approached S&N in October. S&N owns the Newcastle Brown, Kronenbourg and Strongbow brands, but the center of interest is Baltic Beverages Holding, the fast-growing Russian and Baltic brewer that S&N jointly controls with Carlsberg on a 50-50 basis.

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