Takeover speculation boosts FTSE

Scottish & Newcastle shares jumped 20% today after rivals Carlsberg and Heineken admitted their interest in a joint takeover bid.

Takeover speculation boosts FTSE
Wed, 17 Oct, 2007 - 14:19

Scottish & Newcastle shares jumped 20% today after rivals Carlsberg and Heineken admitted their interest in a joint takeover bid.

Analysts have speculated the pair could come up with an 800p a share offer for S&N, valuing the historic brewer at £7.5 billion. Shares rose 124.5p to 761p, even though Carlsberg and Heineken said no formal approach had yet been made.

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CourtsBusinessHeathrowPlace: USEvent: Northern RockOrganisation: FTSE ScottishOrganisation: NewcastleOrganisation: CarlsbergOrganisation: HeinekenOrganisation: ScottishOrganisation: S&NOrganisation: FootsieOrganisation: Bank of EnglandOrganisation: Rio TintoOrganisation: LonminOrganisation: Vedanta ResourcesOrganisation: HBOSOrganisation: Royal Bank of ScotlandOrganisation: HSBCOrganisation: BPOrganisation: Royal Dutch ShellOrganisation: MorrisonsOrganisation: PeroniOrganisation: SABMillerOrganisation: Molson CoorsOrganisation: Enterprise InnsOrganisation: Punch Taverns
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