20th Oct 2014 05:38
LONDON (Alliance News) - Greene King PLC is understood to be close to making an improved GBP700 million bid for rival Spirit Pub Company PLC ahead of a bid deadline on Tuesday, The Sunday Times reported.
The FTSE 250-listed pub company saw a GBP661 million bid for Spirit rejected last month, but is now hoping to agree a 110 pence per share bid early in the week, the paper said.
The two sides are understood to have been holding talks in recent days to try and reach an agreement, though there is a suggestion that Spirit now thinks it is on the path to recovery following a few difficult years and may be resistant to agreeing to a deal, the Sunday Times added.
http://www.thesundaytimes.co.uk/sto/business/Retail_and_leisure/article1472819.ece
By Sam Unsted; [email protected]; @SamUAtAlliance
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