leadf
logo-loader
viewGreene King

Greene King confirms bid for rival Spirit

beer_350_54218fad58b87.jpg

Greene King (LON:GNK), the pub group, saw shares edge up on Tuesday, as it confirmed a possible merger.

"The board of Greene King confirms that it has approached the board of Spirit in relation to a potential combination of the two companies," the firm said in a brief statement in reponse to recent press speculation.

It comes after Greene King reportedly made an offer of around 110 pence per share for Spirit, a hefty premium to Monday's closing price of 75.5p, valuing it at around £725mln.

Hospitality giant Spirit (LON:SPRT) has 450 leased pubs and over 750 managed pubs.

Greene King said it would announce a firm offer or withdraw by October 21 this year in accordance with takeover rules.

Spirit Pub shares raced up over 19% on the news.


Quick facts: Greene King

Price: - -

LSE:GNK
Market: LSE
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

GTI Resources upbeat as it kicks off aircore drilling program at Niagara...

Rob Holm, senior consultant with CSA Global, speaks with Proactive Australia's Andrew Scott following the news GTI Resources Ltd (ASX:GTR) has started an initial aircore drilling program at Niagara Gold Project near Kookynie in WA. CSA Global's managing the project and Holm says a 60-hole...

7 hours, 56 minutes ago

2 min read