SABMiller Plc has said that it will not be making a bid for fellow brewer Scottish & Newcastle Plc (S&N). SABMiller said that while it had undertaken a preliminary evaluation of S&N, it had decided not to take further action.
S&N has already agreed to a joint takeover bid by Heineken and Carlsberg. The joint bid was agreed last month and values S&N at Â£7.8 million.
According to Reuters, analysts have said a bid by SABMiller could have caused complications on competition grounds, as SABMiller would not get control of Russian firm Baltic Beverages Holding, which is owned 50-50 by S&N and Carlsberg.