Greene King confirms bid for Spirit

23 September 2014 by
Greene King confirms bid for Spirit

Pub giant Greene King has confirmed it is planning a bid to buy rival firm Spirit Pub Company.

The announcement came after a report in the Financial Times this morning that Greene King has offered around 110 pence per share for Spirit, having had an earlier 100 pence per share bid rejected.

In a statement to the City regarding the speculation, Greene King said: "In light of recent speculation, 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 company has until 5pm on 21 October to announce a firm intention to make an offer for Spirit, or to announce that it does not intend to make an offer.

Spirit Pub Company has 770 managed pubs, including the Chef & Brewer, Taylor Walker and Fayre & Square brands, while Greene King has 1,000 managed pubs and around 900 tenanted and leased pubs.

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking