Domecq deal probe sends Whitbread looking elsewhere
WHITBREAD has bounced back from the Government's decision to refer its bid for Allied Domecq's pub estate to the competition authorities with the news that it has turned its attention to alternative acquisition opportunities.
It withdrew its £2.85b share and cash offer for Allied's 3,500 pubs following the referral.
Whitbread refused to comment on whether the group would renew its interest in Greenalls or Swallow Hotels, both of which it was rumoured to be interested in early this year (Caterer, 18 and 25 February, pages 16 and 14).
The group declined to name its acquisition targets but reiterated its desire to expand.
A City analyst said: "I would anticipate Swallow or Greenalls must be next on the agenda."
Allied Domecq, meanwhile, received two approaches on Friday and Saturday from mystery bidders interested in topping the £2.75b bid from pub group Punch Taverns. The boards of Punch and Allied agreed terms for the deal on Tuesday (20 July).