As S&N have now sold off their pub estate, theres a great chance that they will become a takeover bid.
This share could rise substantially soon.
What does everyone else think?

Times
Directors' dealing: THEMUTUAL.NET (director sells stock for 81,000 stg) -
Rumour of the day: SCOTTISH & NEWCASTLE (rumours of predatory interest from
Anheuser-Busch)

does anyone know when we get dividends this year from this?

share price has been rising well this year

I think that the saying "Theres no smoke without fire" may apply to Scottish and Newcastle's situation. Have held these shares for 3 years or so and added more when T. Hemmings acquired a holding . Sctn has been associated with many preditors but,the most obvious candidate is Carlsberg since both it and Sctn have 50-50 ownership of Baltic Beverages Holdings (BBH) which has a 37% share of the growing beer market in Russia. I think Putin thinks well of this situation since beer is helping to ween the public off of excessive Vodka consumption. Since Carlsberg is changing its cumbersome ownership structure which, has probably held up any merger with Sctn, the interest in Sctn shares have been more pronounced. I think Carlsberg would pay well above current market level to secure Sctn since it would then safeguard its ownership of BBH which has much potential. Sctn also owns 49% of United Breweries which own Indian Brands Kingfisher and Sandpiper. Bulmers were also acquired when they went through a bad patch and have since grown well , not to leave out names like Fosters in Europe and Newcastle Brown Ale. There could well be a bidding war for this one and the volatile market that pevails at present could well bring things to a head. sp 646p

scotinvestor ....late reply but ex div was 28.3.07 (14.44p) should have been paid 2.5. Next ex div will be mid September for Interim.

Easy going thread this, 3 months to get an answer re divis. Scotinvestor log on to the company website, all the info you rquire will be on there.
jj50 pop in and have a coffee sometime....soon :-)

optimistic- I make it 15 months.

Guscavalier.. you're right! LOL

opto ... I'll see you there :-)

Scottish & Newcastle PLC
03 July 2007


3 July 2007


Scottish & Newcastle plc

Pre-close Trading Update

Scottish & Newcastle has issued the following trading update ahead of the close
period prior to our interim results announcement on August 7.

Branded beer growth continues its momentum right across the group, with our
brands outperforming in their respective markets. Our strategy of delivering
value growth in mature markets and volume growth in developing markets continues
to deliver.

While in some markets there are particular challenges, we remain confident that
performance for the full year will meet expectations for the group as a whole.


UK

S&N UK continues to extend its leadership and build value in one of the most
competitive markets in Europe. In the first five months of 2007, our Beer and
Cider market share growth has accelerated, driven by increases in investment in
marketing, and a portfolio approach that is unmatched by our competitors.

In Beer, we expected a relative decline in sales for the UK market in the first
half, with a corresponding benefit in the second due to the timing of last
year's World Cup sales. This has been accentuated by poor weather in the first
half, resulting in a market decline of 5%. Despite this, all our key brands -
John Smith's, Foster's, Kronenbourg and San Miguel - have grown share of
category. We expect the second half will show broadly level beer volumes for the
market as comparatives improve, despite the potential impact of the smoking ban.

In Cider, we have also gained share in a market which has continued to grow
strongly despite the poor weather. To capitalise on the Cider opportunity we
have invested heavily in the first half, skewing our annual marketing spend
ahead of the peak summer period.

During the first half, we have continued to counter input cost pressures, and
have put in place a number of initiatives which will see the first 10m of new
cost savings phased into the UK across the second half of 2007.

As a result of all these factors, operating profit in the UK will be lower in
the first half compared with the previous year; however we believe that
performance for the full year in our UK business will meet expectations.


International

Our International division continues to grow branded beers in their respective
markets, particularly Sagres in Portugal and Newcastle Brown Ale in the US.

In France, we are seeing further growth in branded beer through a continued
focus on marketing and innovation behind our top 3 brands. Combined volume share
of Red and White, Kronenbourg 1664 and Grimbergen has increased by 60 basis
points in the key off trade channel to April 2007.

Trading in the French wholesale business remains extremely challenging and this
remains a key management priority.
In addition, the recently-resolved dispute at our Obernai plant will also have
some impact.

In India, where we are market leader, our Kingfisher brands are performing
strongly in a market in double digit growth. In China we are building on our
success from last year where volumes grew by 29%.


Baltic Beverages Holding (BBH)

BBH remains leader in most of its markets, including Russia, where Baltika's
unrivalled portfolio continues to deliver. BBH results for the first half of
2007 will be announced on August 1.

The Russian market has continued to benefit from an unseasonably mild winter,
contributing to cumulative market growth of more than 20% for the period so far
to May, although as we move into the second half of the year, the comparatives
get much tougher following the growth of 14% in the market from July to December
last year.

Within this growing market, the Baltika brand portfolio continues to outperform.
Baltika's market share across the same period to May stands at 37.6%, more than
200 basis points up on the previous year, a trend that we expect to continue for
the remainder of the year.


Financial expenses and taxation

Financial expenses have been and will continue to be adversely affected by
significant interest rate rises, as well as increasing investment levels in BBH.

Our tax rate for the year however is now expected to be lower than last year,
following the reduction in the underlying rate of corporation tax in the UK from
30% to 28% and tax settlements relating to prior years.


sp 628.5p

SP 580p in this mornings sell off, despite speculative gains only a couple of days ago about a carlsberg bid again.
Do people think this bid is imminent / likely ? (This thread started in 2003 on the same theme!)
Don't know much about Carlsberg but would they require a lot of credit to finance a takeover or is it loose change / cash in the bank?
Thanks

Elsewhere, Scottish & Newcastle gained 7 to 632 on news it could be a possible bid target after it was revealed Carlsberg AS, has 70 bln dkr available for acquisitions, board chairman Povl Krogsgaard-Larsen said. paul30661- mentioned in the media today.

sctn mentioned on p11 of shares mag this week (vol 9 issue 36). FOREMOST believes that takeover by Carlsberg will happen and shares concludes that on a PE of 17.4 falling to 15.5 , the sp does not contain a takeover premium.

LONDON (Thomson Financial) - Scottish & Newcastle PLC's 50 pct stake in Baltic Beverages Holding is not for sale, industry sources have said.

Sources told Thomson Financial News they could not 'conceive of the possibility' of the stake in the joint venture with Carlsberg becoming available.

Danish daily Berlingske Tidende today reported Carlsberg chairman Povl Krogsgaard-Larsen as being prepared to buy S&N out of the Russian and Baltic States-focused brewer for 30-40 bln dkr -- up to 3.64 bln stg.

'We are ready,' Krogsgaard-Larsen said. 'We can clearly see advantages in getting 100 pct ownership of BBH. We've built up a capital reserve so we can react the day it becomes possible [to buy S&N's share of BBH].'

A spokesman for S&N responded: 'We are very happy with the relationship with Carlsberg and the joint ownership of BBH and that is and will remain the position.'

Speculation of a merger or a takeover of S&N by Carlsberg resurfaced again this week after Carlsberg announced the appointment of Joergen Buhl Rasmussen as chief executive following the departure of Nils Smedegaard Andersen who steps down on October 1.

Rasmussen, who has been Carlsberg's representative to BBH and has close links with S&N, told a news conference on his appointment: 'I see no need to make large changes. My appointment has nothing to do with a potential purchase of S&N.'

Guscavalier comment: It is no secret that Carlsberg would like to own 100% OF BBH. However, it will have to make a full bid or merge with sctn to do so. This is likely so as to keep other predators as bay. I would not be surprised to see others enter the fray once Carlsberg makes a move. sp620p

well in told everyone here to buy S&N..........ok, its been a medium hold for me but it was a solid share to have in turbulent times..........almost doubled my money in 4.5 years, quite good i think

hooray! glad to see you have a proper stock in your portfolio ..... as you say, t/o has been on the cards an awful long time but now should come to fruition

been very rewarding especially when dividend payments are included. Will continue to hold for now.

talk of SCTN only accepting anything with minimum of 8???

Thus 8 min. nice!!
Into CGT area again!!!

with sp currently 761/762 it is worth considering whether or not this makes a sensible buy for non-holders ....... there is a chance that Annheuser will come thundering into the fray with a fatter offer, though there is also a chance that S+N will boot all offers into touch

Very interesting move for Sctn to be considering making its own offer for the remainder of BBH . It may do this by a combination of a rights issue and debt with the possibility of selling a minority interest in the future. With BBH regarded to have good growth potential, shareholders may well support this idea. Besides with this possibility it will probably help maximise a further offer for Sctn by Carlsburg/Heineken or any other that may decide to enter the fray. I expect the sp to advance a good deal north of 800p with it currently at 770p.

MoneyAM
Scottish & Newcastle said today it has entered into discussions with Carlsberg and Heineken.

The talks revolve around a possible recommended offer for S&N at 800p per share.

The parties said the consortium's proposal is subject to certain pre-conditions, including satisfactory completion of limited due diligence.

In a separate statement the Takeover Panel said it had agreed with the parties request that the 'Put up or Shut up' deadline be extended to 12 noon on 24th January 2008, to enable the consortium to complete its due diligence.

It added that no extension to the revised deadline will be granted without the the consent of the Panel Executive.

The companies said shareholders should be aware that there can be no certainty that a formal offer will be made and added a further announcement will be made as appropriate.

The potential bid offer increase of 20p per share will be funded by Carlsberg, the companies added. sp766p

yip, look like 800p