Shareholders are putting pressure on Scottish & Newcastle to open talks with Carlsberg and Heineken, who have bid £7bn for the brewer. They fear the share price could collapse if the Danish and Dutch rivals walk away. Some institutional investors are understood to have offloaded significant holdings during the last week. Analysts say Carlsberg needs to go hostile and get the deal done, but going hostile at higher than 780p could be risky as the consortium would have to decide how to fund an extra £290m. The Observer 02/12/07 (Business) page 1