Mitchells & Butlers boss Tim Clarke has his eye on Whitbread's Beefeater and Brewer Fayre outlets after Robert Tchenguiz's £4.6bn takeover bid collapsed on Friday. Clarke is considering paying between £300m and £500m for the 250 pubs which Whitbread put up for sale last week. He believes that if the deal goes ahead, M&B would be able to refinance its borrowing and return about £300m to investors. The question now is where Tchenguiz will turn next, after losing out for Spirit last year and now M&B. He remains in the hunt for an estate of some 200 pubs being sold by Punch for around £500m. The Mail on Sunday (Financial Mail) 07/05/06 page 2 The Sunday Times 07/05/06 (Business) page 3.15 The Independent on Sunday 07/05/06 (Business) page 12