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."
- T20WC broadcasters announce special feed for hearing and visually impaired fans
- Motorola Edge 50 Fusion with 144Hz pOLED display, 5,00mAh battery launched starting at ₹22,999
- Today's Silver Prices (May 16, 2024): Updates for Mumbai, Delhi, Kolkata, Bengaluru, Chennai, and other Indian cities
- Bridgerton season 3 will be out on Netflix India today! Here’s everything you need to know about the popular period drama
- With over one lakh fresh jobs, hotel industry could revitalise Indian job market in the next 18 months: Report
- 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