UK: Scottish & Newcastle shares strongly up on a bid approach

Scottish & Newcastle, the brewer and subject of unwanted overtures from Carlsberg and Heineken, is higher after Dresdner Kleinwort said a bid could be pitched at 823p a share, according to ShareCast, October 18.

The broker dropped the shares to 'add' from 'buy', but lifted its price target to 800p from 670p, more than the break-up value of 740p.

19 October, 2007