Ei Group (EiG) shareholders are to vote on the proposed merger with Stonegate on 12 September.

It follows the announcement made on 18 July 2019, by the boards of EiG and Stonegate Pub Company Bidco Limited – a wholly owned subsidiary of Stonegate Pub Company – that the terms of a recommended all-cash acquisition of the entire and to be issued ordinary share capital of EiG had been agreed, in a deal valued at £2.96bn.

The directors of EiG have unamiously recommended that all scheme shareholders vote in favour of the scheme at the Court Meeting and that all EiG shareholders vote in favour of the Special Resolution to be proposed at the General Meeting.

The merger would see Stonegate become the largest operator of pubs in the UK, with a total estate of c.5,000 sites.

To read MCA’s exclusive interviews with Stonegate chief executive Simon Longbottom, following the announcement of the deal, click here, or for the interview with EiG chief executive Simon Townsend and chairman Robert Walker, click here.