Heineken N.V.
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Publicatie datum
15 nov 2007 - 09:01
Statutaire naam
Heineken N.V.
Titel
Heineken N.V. (“Heineken”) and Carlsberg A/S (“Carlsberg”) Full and Fair Proposal Made to Scottish & Newcastle plc
Bericht
Amsterdam, 15 November 2007 – Heineken and Carlsberg (the “Consortium”) announce that they have today made an increased proposal to the Board of Scottish & Newcastle plc (“S&N”) under which the Consortium would offer to acquire S&N for 750 pence per share in cash (the “Increased Proposal”). The Consortium believes it is important that S&N shareholders are fully informed of the merits of the Consortium’s Increased Proposal in advance of S&N’s trading update on 20 November 2007.
Key highlights of the Consortium’s Increased Proposal are:
· a full and fair offer price of 750 pence per share in cash, valuing the group at an equity value of £7.3bn and an enterprise value of approximately £9.7bn, substantially in excess of the standalone independent value of S&N;
· an increase of 30 pence per share;
· a premium of 41% to the share price of 531 pence being the closing price on 28 March 2007 (the date immediately before speculation first arose around a possible offer for S&N);
· a historic transaction multiple of 13.6x S&N’s EBITDA for the year ended 31 December 2006 (materially higher than those paid by S&N for its recent major acquisitions); and
· a high degree of certainty for S&N shareholders.
S&N Board recommendation and limited confirmatory due diligence continue to be pre-conditions.
Commenting on the Increased Proposal, Jean-Francois van Boxmeer, Chairman and CEO of Heineken said:
“The Increased Proposal represents a very attractive opportunity for S&N shareholders to obtain a price which is materially higher than the standalone value of the group. Heineken will act in a financially disciplined manner in its pursuit of this transaction.”
Commenting on the Increased Proposal, Jørgen Buhl Rasmussen, CEO of Carlsberg said:-
“The Consortium's Increased Proposal of 750 pence per share offers S&N shareholders the opportunity to secure a full and fair price for the entire business. Carlsberg will only proceed with a transaction if it believes it is in the interests
Datum laatste update: 25 maart 2025