S&N seeks partners to fight takeover bid

30 October, 2007

Scottish & Newcastle is looking for another brewer to buy Carlsberg’s stake in their Russian joint venture BBH in a bid to stay independent, reports have said.

SABMiller and Anheuser-Busch are among those rumoured to be S&N’s potential partners as it attempts to fight off a joint takeover bid by Carlsberg and Heineken. S&N has rejected the offer, calling it “unsolicited and unwelcome”.

The brewer has dismissed reports it is seeking a team-up with other major players as “pure speculation”. Observers have said that even if it successfully fends off the takeover bid it will have to face some sort of corporate restructuring.

S&N has also threatened to take Carlsberg to court, saying the takeover bid broke the terms of the BBH shareholders agreement.

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