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| Version 0 | Version 1 |
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| Bid plan for Scottish & Newcastle | Bid plan for Scottish & Newcastle |
| (about 2 hours later) | |
| Brewing giants Carlsberg and Heineken have said that they are in talks about forming a consortium to buy Scottish & Newcastle (S&N). | Brewing giants Carlsberg and Heineken have said that they are in talks about forming a consortium to buy Scottish & Newcastle (S&N). |
| They said there was no guarantee an offer would be made for the firm, whose brands include Foster's, Kronenbourg 1664 and Newcastle Brown Ale. | They said there was no guarantee an offer would be made for the firm, whose brands include Foster's, Kronenbourg 1664 and Newcastle Brown Ale. |
| If it went ahead, Dutch firm Heineken would take control of S&N's business in the UK and some other European markets. | If it went ahead, Dutch firm Heineken would take control of S&N's business in the UK and some other European markets. |
| Meanwhile, Denmark's Carlsberg would take over the rest of the firm. | Meanwhile, Denmark's Carlsberg would take over the rest of the firm. |
| This includes S&N's East European brewer Baltic Beverages Holding, and its businesses in France and Greece. | This includes S&N's East European brewer Baltic Beverages Holding, and its businesses in France and Greece. |
| Boss leaving | Boss leaving |
| S&N has long been seen as a possible takeover target, and in lunchtime trading its shares were up 102p, or 16%, at 738.5p. | |
| Carlsberg and Heineken had both been named as potential individual bidders. | Carlsberg and Heineken had both been named as potential individual bidders. |
| Diageo and SABMiller are other drinks firms which have been linked with a possible takeover. | Diageo and SABMiller are other drinks firms which have been linked with a possible takeover. |
| Earlier this year, Carlsberg restructured, giving it more scope to raise capital and therefore take part in merger or takeover activity. | |
| Last month, S&N's chief executive Tony Froggatt said that he was calling time on his career at Britain's biggest brewer. | Last month, S&N's chief executive Tony Froggatt said that he was calling time on his career at Britain's biggest brewer. |
| He will be succeeded next month by John Dunsmore, currently head of the company's UK and European brewing operations. | |
| One analyst said he believed Scottish & Newcastle investors would not be willing to sell for anything less than 750p a share. | |
| "It is early days but clearly Scottish & Newcastle is in play and the market is reacting very strongly to this," said Clem Chambers, from investor website ADVFN.com. | |
| Scottish & Newcastle was the world's seventh largest brewer in 2006 in terms of total sales volumes. Heineken and Carlsberg were ranked fourth and fifth respectively. |