23rd Sep 2014 12:59
LONDON (Alliance News) - Greene King PLC is understood to have made a bid for rival Spirit Pub Company PLC, the Financial Times reported on Tuesday, citing a person familiar with the matter.
The person said Greene King had offered around 110 pence per share for Spirit, having had an early 100 pence per share bid rejected.
Spirit has retained advisors in response to Greene King's approach, the FT added.
Spirit shares surged higher on the news, up 19.2% to 90 pence, while Greene King shares were up 0.6% to 798 pence.
http://on.ft.com/1tWWupz
By Sam Unsted; [email protected]; @SamUAtAlliance
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