Carlsberg told to put up or shut up on S&N

Carlsberg and Heineken must make a formal bid for Britain's largest brewer inside a month or walk away, the Takeover Panel said

Morningstar.co.uk Editors 17 December, 2007 | 4:52PM

The consortium must announce “a firm intention to make an offer” by midday on by January 21 or else say it does not intend to bid, the regulator said in a statement.

Carlsberg and Heineken, the largest brewers in Denmark and Holland respectively, revealed they were in talks to buy S&N in October. They offered 750p a share in November, valuing the brewer of Foster's, Kronenbourg and Newcastle Brown Ale at £7.3bn. S&N rejected that approach as "wholly inadequate" and has refused to meet the bidding consortium.

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