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Punch denies 5 billion Mitchells & Butlers bid

Published:  23 July, 2008

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.