S&N rejects futher takeover bid from brewing giants

Scottish & Newcastle continued to frustrate Carlsberg and Heineken today after the UK firm rejected another takeover approach from the brewing giants.

The pair’s latest proposal valued S&N at £7.6bn (€10.1bn), but the Kronenbourg 1664 and Foster’s maker indicated that an offer worth at least £7.8bn (€10.4bn) was needed before it would consider engaging with its continental rivals.