Punch denies 5 billion Mitchells & Butlers bid
The Punch group has insisted that it is about to take over Mitchells & Butlers, the owner of pub chains All Bar One and Harvester, in a 5 billion deal.
"Punch notes the current speculation regarding Mitchells & Butlers and confirms that it is not in discussions with M&B or any M&B shareholder, regarding any offer or merger," a statement issued by Punch said.
Mitchells & Butlers instead appears to be focused on a deal with enterpreneur Robert Tchenguiz that would shift the property assets of the pub group into a real estate investment trust.
Mitchells & Butler is due to release its annual results on Thursday, with the company valued at around 2.58 billion.
Punch has 793 pubs including the Chef & Brewer brand and is valued at approximately 2.27 billion.
Keywords:
Search
56-58 Church Walk, Burgess Hill, West Sussex, RH15 9AN
Registered in England No. 6646125. VAT No. 938 4452 95
