Wednesday, 24 September 2014

Pub gossip - part 4

It's a bit late in the day but just a quick note to congratulate Bryce Elder, the stock market reporter over at the Financial Times, on yesterday's scoop about Greene King's £700m takeover approach for rival Spirit. Here is a link to Bryce's piece: http://www.ft.com/cms/s/0/cb3478c6-4338-11e4-be3f-00144feabdc0.html#axzz3EAr0HkhD

Dom Walsh over at The Times also did an excellent follow piece with a comprehensive list of counter bidders for Spirit, including Stonegate and Marston's. However, from what I am hearing I'm not sure Marston's is in the financial position to launch a bid for Spirit.

Indeed, the speculation - and to be clear this is just market speculation - Marston's is expected to refinance its debt/loan facilities next year and this may not be an easy refinancing to complete.

I should have more on this particular situation over the next  few weeks, so keep an eye on Betaville.

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