This is RAW market info, but it comes from sources with demonstrable form: SAB Miller is plotting an alternative takeover offer for Scottish & Newcastle that will value the British brewer at around 850p a share or £8bn.
S&N, of course, has already agreed terms with Carlsberg and Heineken, who together have offered cash terms worth £7.8bn.
SAB has for some time coveted S&N - primarily for its emerging markets assets, crowned by the Russian BBH brewing business.
Last year it explored a joint plan with Diageo, which would have seen SAB launch a takeover before selling S&N’s European beer interests to the maker of Guinness.
Paul Murphy and Neil Hume
