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Heineken N.V. (“Heineken”) and Carlsberg A/S ("Carlsberg") Consortium Urges S&N to Engage | | Amsterdam, 31 October 2007 – Heineken and Carlsberg (the "Consortium") note the announcement earlier today by Scottish and Newcastle plc ("S&N") of its initiation of arbitration proceedings with respect to alleged breaches by Carlsberg of the BBH Shareholders’ Agreement.
The Consortium also notes that Carlsberg has squarely refuted these claims in its response.
Rather than pursuing this legal distraction, the Consortium urges the Board of S&N to engage with the Consortium with a view to progressing its proposal which is aimed at delivering certain cash value to S&N shareholders.
The Consortium continues to believe its proposal at 720p per share in cash represents a compelling and deliverable proposition for S&N shareholders at a value that is significantly in excess of the standalone independent value of S&N. |
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