Bass is planning a £4bn bid for rival Whitbread in an attempt to become Britain's dominant pub operator. A strategy document has been drawn up but chairman Sir Ian Prosser has yet to decide whether to press ahead, according to a report in this weekend's Sunday Telegraph.
Bass, which is in the final throes of disposing of its brewing business for around £2.2bn, is thought to be ready to bid 700p a share for Whitbread, against last week's closing price of 542p.
The suggested plan would see Bass disposing of Whitbread's tenanted pub estate, for around £700bn, and many of its smaller managed pubs. Costa Coffee and even David Lloyd Leisure might also be sold on to reduce debt.
As well as acquiring Whitbread's pub and restaurant brands, the deal would also add its Marriott hotel chain and Travel Inns to Bass's existing hotel portfolio.
Whitbread is understood to have anticipated a hostile move by Bass and has planned a defence.
Other newspaper reports suggest that Bass has drawn up plans to merge with US hotels group Starwood and create an international hotels giant with sales of about £6bn. (See Weekend Press)
The Sunday Telegraph 11/06/2000 page 1 (Business)
Bass, which is in the final throes of disposing of its brewing business for around £2.2bn, is thought to be ready to bid 700p a share for Whitbread, against last week's closing price of 542p.
The suggested plan would see Bass disposing of Whitbread's tenanted pub estate, for around £700bn, and many of its smaller managed pubs. Costa Coffee and even David Lloyd Leisure might also be sold on to reduce debt.
As well as acquiring Whitbread's pub and restaurant brands, the deal would also add its Marriott hotel chain and Travel Inns to Bass's existing hotel portfolio.
Whitbread is understood to have anticipated a hostile move by Bass and has planned a defence.
Other newspaper reports suggest that Bass has drawn up plans to merge with US hotels group Starwood and create an international hotels giant with sales of about £6bn. (See Weekend Press)
The Sunday Telegraph 11/06/2000 page 1 (Business)
