Greene King receives extension on takeover deadline for Spirit Pubs

30 October 2014 by
Greene King receives extension on takeover deadline for Spirit Pubs

Pub operator Greene King has until 5pm on 4 November to announce a firm intention to take over the Spirit Pub Company, it has been announced, as discussions between the companies continue.

This is further to the announcement on 20 October that Greene King intended to make a possible offer to take over the company, with the Spirit Pub Board having confirmed it would be willing to recommend an offer should it find it satisfactory.

It also marks an extension to the original offer of 5pm on 30 October, thanks to the Spirit Board having agreed that discussions could continue, according to the statement made to the City.

However, there is still no definite confirmation that an offer will be made.

The news is the latest in the continuing development of Greene King's intentions to take over Spirit. The pub giant had upped its offer for Spirit on 20 October, to a value of 109.5p per share, after its initial offer of 100p per share was rejected in September.

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

Greene King ups takeover bid for pub rival Spirit >>

Greene King confirms bid for Spirit >>

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 Group 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.


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