Joint bidding for Mitchells & Butlers to be decided
20 February 2008
Three parties are reportedly in discussions over confidentiality agreements that will determine if they can launch joint bids for embattled pub operator Mitchells & Butlers.
According to today's Financial Times, the O'Neills and All Bar One operator sent confidentially agreements to the three likely bidders last week in a bid to begin a formal auction process.
Punch approached M&B earlier this month with a merger proposal that would create a pub giant with turnover of £3.7b. The deal followed M&B's £274m loss on hedging arrangements.
Read the full report in the FT here >>
Merger of Punch and M&B set for go-ahead >>
Board at Mitchells & Butlers under fire after £274m loss >>
By Christopher Walton
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