This site uses cookies in order to function properly and to allow us to improve our service.
By using this site you consent to the use of cookies. Find out more HERE

Subscriber login Close [x]

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.

Printer friendly version