Spirit Pubs rejects C&C offer
Irish drinks company C&C has seen an offer for Spirit Pubs Group rejected late on Thursday.
C&C Group (CDI)
164.80p
16:44 25/04/24
Greene King
849.20p
17:15 30/10/19
C&C, best known for producing Magners cider as well as manufacturing Bulmers in Ireland and Tennent’s lager, is understood to have approached Spirit with a 115p per share offer, higher than Greene King’s planned £723m takeover.
On Monday, Spirit announced that it would recommend a proposed 109.5p offer from Greene King, whose brands include Loch Fyne and Hungry Horse, having previously rejected a 100p per share approach on 15 September.
On Thursday, Spirit shares closed 3.91% up to 106.25, while C&C shares dropped 2.61% to €3.92 and Greene King shares advanced 0.95% to 797.00p.