No wallflower
Scottish & Newcastle (S&N) does not behave like a wall-flower when it comes to waltzing with suitors. In early February, there was renewed speculation that SABMiller would finally complete the originally planned three-way merger between SAB, Miller and S&N, which was first suggested in November 2001 when documents apparently prepared by investment banks Goldman Sachs and Lazards for Belgian brewer Interbrew were leaked to the British media. With the spotlight on SABMiller, UK commentators wondered aloud if S&N were not the obvious target for an acquisition-hungry SABMiller given that S&N has no dominant shareholders and moreover enjoys strong positions in the UK, France and Russia. Next they turned to spirits group Diageo and other venture capitalists as potential buyers of S&N.e..
Select offer and read on
6 print issues