The UK's largest brewer, Scottish & Newcastle, is preparing to make a takeover bid for the troubled UK cider group, HP Bulmer, according to a report in the Scottish newspaper, the Daily Record. Bulmer has been subject to a catalogue of financial troubles during the past six months, which is thought to have made it a prime target for a takeover. Last week, HP Bulmer heightened takeover speculation by conceding that it might have to sell following a further deterioration in trading.

05 February, 2003