Finance – Page 406
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Weekend Press
Punch shareholders in M&B mutiny
Mitchells & Butlers has agreed to look at Punch Taverns’ merger proposals under which both companies’ shareholders would hold 50% of the enlarged pubs group. But Punch shareholders have warned they will vote against any deal if it dilutes their stakes. They claim that Punch will hand over £175m in ...
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News
Punch rubbishes R20 property deal talk
Punch Taverns has dismissed suggestions that it might agree a property deal with Robert Tchenguiz’s R20 as the price for securing the entrepreneur’s support for its proposed £11bn merger with Mitchells & Butlers (M&B).Tchenguiz, who has a 23% stake in M&B, had been in negotiations with the group over a ...
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Weekend Press
JD Wetherspoon shares 'on slide'
Brokers Cazenove are recommending investors to sell JD Wetherspoon shares as like-for-like sales slide. This is partly due to the smoking ban, but underlying pressure on the consumer could also be to blame.The Daily Telegraph 02/02/08 (Your Money) page 6
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News
Innis & Gunn creator buys out distiller’s stake
Douglas Sharp, the creator of Innis & Gunn, has announced plans to turn the beer into a global brand after acquiring William Grant’s 90% stake in the brewer.Sharp, who is a former head brewer at Caledonian Brewery, said he would open a new Edinburgh office to oversee plans to aggressively ...