Heineken and Carlsberg announce Newcastle takeover bid
Heineken & Carlsberg announced this morning their offer to buy Scottish & Newcastle (S&N), the parent company of Beamish & Crawford.
The board of S&N has agreed to recommend the offer to its shareholders. The bidding consortium is making an offer for S&N at £8 (€10.74) per share and this offer is recommended by S&N’s Board.
Completion will be subject to a vote by S&N shareholders, legal and regulatory clearances (European and Irish competition authorities) and confirmation by Heineken and Carlsberg’s own shareholders. It is anticipated that this deal will complete in Q2 of 2008. There is nothing that would prevent a rival bidder coming forward for S&N.
Heineken intend to acquire S&N’s businesses in UK, Ireland, Portugal, Finland, Belgium, US, Venture Markets and India. Carlsberg intend to acquire S&N’s 50% share of BBH, plus businesses in France, Greece, China and Vietnam.
Alf Smiddy, chairman and managing director, Beamish & Crawford said :“As it will take some months to complete, it is unknown at this point the nature of the impact the transaction will have for Beamish & Crawford.
“Ultimately, when and if the consortium’s bid for S&N is successful, it will be a matter for Heineken to outline its plans for Beamish & Crawford going forward.”
