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Shares in brewing giant rise over takeover speculation
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Britain’s largest brewer, Scottish & Newcastle, saw its shares leap up 13.5p yesterday, before ending the day at 412.5p.
The drive was the result of rumours that South African brewer, SABMiller, was lining up a bid for the company.
The development comes just a week after shares in S&N reached a 12-month high at 413.5p, following unfounded rumours that spirits group, Diageo, was lining up an takeover approach.
According to analysts, an approach from SAB would be more credible, as acquiring S&N would increase SAB’s exposure in western Europe.
Britain’s largest brewer, Scottish & Newcastle, saw its shares leap up 13.5p yesterday, before ending the day at 412.5p.
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