Entrepreneur Robert Breare may be about to bid £472m for Wolverhampton & Dudley Breweries.

He has been pursuing the brewery and pubs group for over six months. Wolves has set a deadline of April 5 for formal offers to be made for the company.

Tom Shrager of Tweedy Browne, a New York-based Wolves shareholder with a 6% stake, is to write to the board urging them to accept the offer. However, Wolves executive directors still hope to put together a management buyout.

At the same time Pubmaster is set to make it a three-way battle by tabling a £450m bid.

Four breweries and an estate of both managed and tenanted pubs are up for grabs.

Pubmaster is also involved in the bidding for the 3,000 pub estate being sold by Whitbread and is reported to be interested in buying the tenanted pub company Avebury Taverns.

Meanwhile Wolves' shares are tipped as a "buy" in The Sunday Telegraph's Market Miscellany column.

Financial Times 03/3/01 page 14

The Independent 03/3/01 page 19

The Guardian 03/3/01 page 24

Sunday Business 4/03/01 page 2

The Mail on Sunday 4/03/01 page 2 (Financial Mail)

The Sunday Telegraph 4/03/01 page 9 (Business)

The Sunday Times 4/03/01 page 3.3 (Business)