SABM planning bid for UK rival?
London - Brewer SABMiller is weighing a move to acquire rival Scottish & Newcastle in a £6.5bn deal, a British newspaper reported on Sunday.
Britain's Sunday Express, quoting unnamed sources it said were close to SABMiller, claimed a bid could be made for the rival brewer within days, valuing the company at around £7.12 per share.
Shares in Scottish & Newcastle closed on Thursday at £6.065. There was no trading in London on Friday, a British public holiday.
The newspaper reported that, if it succeeded in acquiring the rival company, SABMiller planned to sell Scottish & Newcastle's British interests - including the country's highest-selling lager Foster's - and the firm's French business interests to spirits giant Diageo PLC.
Investment bank JP Morgan is advising SABMiller on the potential acquisition, the newspaper reported.
SABMiller and Scottish & Newcastle could not immediately be reached for comment.
Article from http://www.fin24.co.za/
At www.southafrica-carhire, we support SAB. But we also strongly support no drinking and driving!
Britain's Sunday Express, quoting unnamed sources it said were close to SABMiller, claimed a bid could be made for the rival brewer within days, valuing the company at around £7.12 per share.
Shares in Scottish & Newcastle closed on Thursday at £6.065. There was no trading in London on Friday, a British public holiday.
The newspaper reported that, if it succeeded in acquiring the rival company, SABMiller planned to sell Scottish & Newcastle's British interests - including the country's highest-selling lager Foster's - and the firm's French business interests to spirits giant Diageo PLC.
Investment bank JP Morgan is advising SABMiller on the potential acquisition, the newspaper reported.
SABMiller and Scottish & Newcastle could not immediately be reached for comment.
Article from http://www.fin24.co.za/
At www.southafrica-carhire, we support SAB. But we also strongly support no drinking and driving!
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