Scottish & Newcastle has rejected a third bid for the company from rival brewers Carlsberg and Heineken.

The 780p-a-share offer, “still failed to reflect the unique strengths and market positions of the company”, S&N said.

“The board has discussed with the consortium that it is prepared to engage with them, but only when a firm proposal of at least 800p-per-share had been made and when Carlsberg has agreed to the publication of proper information about BBH prospects,” it added in a statement.

Carlsberg and Heineken have been pursuing S&N since October and have until 21 January to make a firm offer or walk away.