Newcastle Sells for $15.2B
(Newser)
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After months of playing hard-to-get, UK brewer Scottish & Newcastle has agreed to a $15.2 billion takeover bid from Carlsberg and Heineken. The offer tops a bid rejected in March by 11.1%, Forbes reports. Experts expected S&N to squeeze out a better deal, especially after it filed a lawsuit to pressure Carlsberg. S&N’s stock rose 2.1% on the announcement; Carlsberg's dropped 4.1%.
Carlsberg and Heineken will divide the spoils regionally, with Heineken taking over operations in the US, UK, and most of Europe, while Carlsberg controls much of Asia. In Britain, brew lovers are upset. “The inevitable result of consolidation is brewery closures, brand losses and less choice for Britain’s consumers,” argued the Campaign for Real Ale advocacy group.
Sources:
Forbes,
MarketWatch
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