Brewing takeover deadline approaches

Foster’s brewer Scottish & Newcastle faces a critical day in its future tomorrow as a key deadline for its European takeover suitors looms.

Brewing giants Carlsberg and Heineken – in talks with S&N over a possible £7.8bn (€10.4) deal – have until midday to announce their firm intention to make a bid under a “put up or shut up” deadline imposed by the City’s Takeover Panel.