Mitchells & Butlers enters FTSE 100
Mitchells & Butlers has followed hot on the heels of Punch Taverns and entered the FTSE 100 just two days after the rival pub operator became a member of Britain's elite companies.
The owner of the All Bar One, O'Neill's and Ember Inn chains' has a market capitalisation of £3.19b after finishing financial year 2006 on 30 September with a turnover of £1.72b and a pre-tax profit of £220m.
Since June 2006 when Robert Tchinguiz's investment vehicle R20 offer 550p per share to acquire Mitchells & Butlers the share price has rallied to 795p
Both Mitchells & Butlers and Punch benefited from foreign acquisition activity. They respectively replace Scottish Power, which was taken over by Spanish power company Iberdrola and tobacco giant Gallagher which was bought by Japan Tobacco.
Punch confirms Admiral sale >>
Robert Tchenguiz abandons attempt to buy pub group Mitchells & Butlers >>
Pub groups Punch Taverns and Mitchells & Butlers poised to join FTSE-100 >>
By Christopher Walton
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