Scots who toasted Robert Burns, their national poet, over the weekend could also have raised a glass to mark last orders for Scottish & Newcastle, the UK’s biggest brewer.

“S&N is one of Scotland’s biggest and best firms, and we are saddened to see the loss of a FTSE 100-headquartered company from Scotland,” said David Londsdale, CBI Scotland’s assistant director. “Our preference is obviously for Scots firms being the ones who are launching the takeover bids.”