Noble House to rebid for brewer
07 September 2000
Robert Breare's Noble House Leisure is expected this week to increase its offer for regional brewer and pub operator Wolverhampton & Dudley.
Backed by venture capitalist Botts & Co, Noble House put forward a bid last month of about 500p a share, which would have valued the brewer at £470m.
Wolverhampton & Dudley, which has four breweries and 1,500 pubs, rejected it as too small and with too many conditions. The increased offer is expected to be 550p a share, or £500m.
Noble House Leisure was set up in June to buy pubs and restaurants. It is buying 10 Fatty Arbuckles diners, and a spokeswoman added that talks to buy the Oriental Restaurant Group were progressing.
