Greene King ups takeover bid for pub rival Spirit
20 October 2014 by Janie Manzoori-Stamford
Pub giant Greene King has upped its takeover offer for rival firm Spirit Pub Company.
Spirit's board has said it will accept the new bid on the condition that other terms can be agreed, according to a statement made to the City.
Greene King's new offer values its intended acquisition at 109.5p per share. Its previous offer of 100p per share was rejected last month.
Spirit Pub Company has 770 managed pubs, including the Chef & Brewer, Taylor Walker and Fayre & Square brands, while Greene King has 1,000 managed pubs and around 900 tenanted and leased pubs.
