S&N rejects another Heineken offer

Heineken and Carlsberg boost their offer for Scottish & Newcastle.

S&N says no.

“The board, having consulted its advisers, has no hesitation in rejecting this wholly inadequate proposal as it substantially undervalues the unique strengths and market position of S&N,” the UK brewer, led by chairman Sir Brian Stewart, said in a statement.

Danish firm Carlsberg and Dutch brewer Heineken plan to carve up S&N if they come up with a successful bid.

One Reply to “S&N rejects another Heineken offer”

  1. The board of S&N can’t say no. They can refuse to endorse the offer but they can’t stop Carlsberg and Heineken going ahead and launching it.

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