Whitbread is in “advanced discussions” with coffee bar operator Coffeeheaven regarding a possible takeover.
The business, which counts Premier Inn budget hotels, pubs and Costa Coffee cafés among its assets, is discussing a cash offer of 24p per ordinary Coffeeheaven share.
In a statement Whitbread said: “Further to recent press speculation, Whitbread confirms that it is in advanced discussions with Coffeeheaven regarding a possible recommended cash offer of 24 pence for each Coffeeheaven share.”
It added that there can be no certainty that an offer will be forthcoming.
coffeeheaven shares were up 11.4% at 22p per share on news of the potential takeover, while Whitbread shares were up 1.2%.
Coffeeheaven operates around 90 coffee bars in Central Europe under the Coffee Heaven and Coffee Nation names. The Whitbread offer is worth a potential £32m.
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By James Stagg
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