Shares in a massive UK pub chain are going nuts over takeover rumours
LONDON - Shares in Punch Taverns are exploding on Wednesday as of 11.55 a.m. GMT (7.55 a.m. ET) after rumours circulated that Heineken is looking to takeover the massive UK chain, which owns 3,300 pubs.
The share price jumped by over 22% after Sky News reported that Dutch brewer Heineken is in a "secret takeover battle for Punch Taverns ... Bidding against Punch co-founder Alan McIntosh."
Google Finance
Sky News reported that Heinken, which makes the Strongbow and Foster's brands, has been embroiled in a secret takeover battle to take control over Punch Taverns and that it is in direct competition with one of the company's founders - Alan McIntosh.
The report added that McIntosh is allegedly working with advisers at the Bank of America Merrill Lynch.
A representative from Punch Taverns told Business Insider: "We are aware of the situation and will issue a statement in due course."
Next Story
2 states where home prices are falling because there are too many houses and not enough buyers
US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
9 health benefits of drinking sugarcane juice in summer
10 benefits of incorporating almond oil into your daily diet
From heart health to detoxification: 10 reasons to eat beetroot
Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
ICICI Bank shares climb nearly 5% after Q4 earnings; mcap soars by ₹36,555.4 crore
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market
