LONDON (Thomson Financial) - Scottish & Newcastle PLC is set to recommend an 800 pence-a-share takeover by Carlsberg AS and Heineken NV later this week, The Mail on Sunday newspaper reported.
S&N chief executive John Dunsmore told the paper: 'You have to detach yourself from what you want to do personally and emotionally and just do the right thing.'
The report said the offer values S&N at 7.8 bln stg.
Under the terms of S&N's recommendation, secret details of the financial prospects of BBH -- its Russian joint venture with Carlsberg -- will become public for the first time, allowing a proper valuation to be made by shareholders and potentially other rival bidders, said the report.
'BBH prospects are very strong and were not just a tactic we played,' Dunsmore was cited as saying. r.jones@thomson.com rj/vs COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.