UK: SABMiller considers making $12.8 billion bid for rival Scottish & Newcastle

UK-based brewing giant SABMiller Plc is considering making 712 pence per share takeover bid for rival Scottish & Newcastle, Sunday Express said, according to Reuters, April 9.

The maker of Miller Lite and Peroni is plotting to acquire rival Scottish & Newcastle in a 6.5-billion-pounds ($12.8 billion) deal.

Quoting unnamed sources, the newspaper mentioned that SABmiller could make a £6.5 billion bid for its rival in the next few days. The newspaper said that in case of a successful deal, SABMiller plans to sell Scottish & Newcastle's UK and French business interests to spirits giant Diageo Plc. JP Morgan Chase is advising SABmiller on the deal, the paper stated.

11 April, 2007