S&N shares lifted by break-up talk

Shares in Scottish & Newcastle surged today after a report said rival firms Diageo and SABMiller had been considering a £9bn (€13.3bn) takeover.

The deal would have seen Diageo acquire S&N’s UK beer business, which includes Foster’s, John Smith’s and Strongbow, while SAB would have taken control of its international assets, such as Indian brewer United Breweries.