FROM Scottish & Newcastle to HBOS, the story of the Scottish company acquired by an international or cross-border rival is a familiar one.

Advisers get a generous pay-day and fund managers meet their three-month performance targets but another set of senior decision-making roles disappears from Scotland.

So it is pleasing to see AG Barr take the initiative and approach rival drinks company Britvic about a tie-up.

The deal, if it is completed, will leave AG Barr managers in the driving seat, with chief executive Roger White overseeing the combined company.

It looks like a good deal for AG Barr. For many years it has been expanding from Scotland into the north of England where Irn-Bru sponsors the Rugby League. Britvic, which recently moved from Essex to Hertfordshire, has a good presence in the south and has an international operation.

AG Barr's speciality is tempting customers to make impulse purchases at the corner shop. Britvic has strong ties to the on-trade, such as pubs, hotels and other licensed premises.

But whether this deal is good for corporate Scotland will depend on where the combined entity decides to have its headquarters. Mr White's presence in the top job suggests that the outcome might be positive.

This isn't a matter of parochial pride. Headquarters mean skilled jobs for local people. They create work for everyone, from law firms and accountants to those who sell the workers sandwiches.

As it seeks to rebuild from the recession, Scotland can ill afford the loss of another major corporation.