Scottish & Newcastle agrees to bid talks

Foster’s brewer Scottish & Newcastle today entered talks with its European suitors over a possible £7.8bn (€10.5bn) offer for the company.

The Edinburgh-based brewer has finally agreed to discussions with Carlsberg and Heineken after the duo’s fourth proposal since their pursuit began in October.

The potential 800p a share approach is subject to conditions including limited due diligence, S&N said.