Shares at Punch climb almost 40% following takeover bids:
Shares at Punch have climbed almost 40% after it confirmed it had received two takeover bids. The company’s share price increased 48.5p to 177.00p on Wednesday afternoon (14 December) from the start of trading – up by 37.74%. It confirmed earlier in the day it had received bids from Heineken and an investment fund backed by Punch co-founder Alan McIntosh. Heineken is in advanced talks but the Dutch brewer’s 174p offer has been outshone by an 185p bid from Emerald Investments, which would value the business at £410m. Both parties have until 11 January to make final offers.
If you would like to read the latest Industry News and Corporate Activity, please click on the following link http://www.propelinfonews.com/selecttemp.php, before 9.00 am for yesterdays News, click on the link after 9.00 am for latest Weekday’s News
Note from Editor:-It would appear that this possible takeover may generate some very interesting situations, possibly beyond the scope of some aspects of the new legislation and the administrators.
There may be questions asked in the House about the legality of certain actions by persons involved, sadly we cannot expand further until or if these questions are raised, but a warning to all lessees make sure you get very good legal advice before taking further actions.