Posted: September 24 2007

It is unknown whether shares in Irish drinks group, C&C, will  rise or fall  this week amid rumours that it will be the subject of a bid attempt by one of the world's top brewers grew.

The shares shot up by 10.5pc in Dublin on Friday on the back of further talk that drinks giant, SAB Miller, will make an offer for the Irish group.

C&C has struggled badly since Magners sales failed to deliver this year due to bad weather and weaker distribution and it was forced to issue two profit warnings during the Summer. 

Speculation is that SAB Miller could offer up to E9 a share, which would see a price tag of some E2.85 billion for the Irish group.

This differential will probably see a rush on the shares when the market opens today and could see the stock come close to the E9 possible offer price.

On the other hand, if SAB Miller continues to sit on its hands and fails to make an announcement on its intention this week, the stock could plunge.