TIME, PLEASE! Punch Taverns will merge with Mitchell & Butlers.
THE FUTURE of almost 100 Hampshire pubs could be affected by plans for a massive £3.7 billion merger between two of the country's biggest landlords, writes Gareth Lewis.
Punch Taverns, which owns more than 60 pubs in and around Southampton, aims to merge with troubled rival Mitchell & Butlers, which owns 28 pubs in Hampshire.
The deal would cement Punch's position as Britain's biggest pub company, with more than 10,500 sites.
Its 62 local sites include The Highfield pub in Highfield Lane, the Malvern Tavern in Shirley, and three in Bevois Valley Road - the Hobbit, the So Bar and Kolebka.
The move comes after Birmingham-based M&B - owner of chains including All Bar One and Harvester - last week racked up £274m in losses following a collapsed £5 billion property deal last summer.
It has seen its stock market value drop 50 per cent since the summer from a peak of £3.6 billion, and in December it was relegated from the FTSE 100 Index.
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The firm's finance director resigned and the group confirmed potential takeover interest in a turbulent week for the business.
Under the merger, Punch and M&B's shareholders would each own 50 per cent of the new company. M&B's shareholders would also receive a cash payment of £175 million.
[quote][bold]mark[/bold] wrote:
something needs done about the 57 pubs closing every month because of the smoking ban. www.innthecold.com[/quote] As was pointed out the other day the closures are nothing to do with the smoking ban. They are to do with owners realising the underlying value of the real estate.
mark wrote:
something needs done about the 57 pubs closing every month because of the smoking ban. www.innthecold.com
As was pointed out the other day the closures are nothing to do with the smoking ban. They are to do with owners realising the underlying value of the real estate.
[quote][bold]mark[/bold] wrote:
something needs done about the 57 pubs closing every month because of the smoking ban.
www.innthecold.com[/quote] Your as bad as George with your bleating
mark wrote:
something needs done about the 57 pubs closing every month because of the smoking ban.
www.innthecold.com
[quote][bold]Adrian Smith[/bold] wrote:
[quote][bold]mark[/bold] wrote:
something needs done about the 57 pubs closing every month because of the smoking ban. www.innthecold.com[/quote] As was pointed out the other day the closures are nothing to do with the smoking ban. They are to do with owners realising the underlying value of the real estate.[/quote] Exactly, and they don't want to admit it - its not nice for the locals they are still hoping to serve, and they may not want to associate themselves with the big sell out of our pub culture. I can see the benefit of making the most of your investment - providing for your family, feathering the nest. But lets not pretend its because of the smoking ban. You had plenty of warning and many other businesses are thriving.
Adrian Smith wrote:
mark wrote:
something needs done about the 57 pubs closing every month because of the smoking ban. www.innthecold.com
As was pointed out the other day the closures are nothing to do with the smoking ban. They are to do with owners realising the underlying value of the real estate.
Exactly, and they don't want to admit it - its not nice for the locals they are still hoping to serve, and they may not want to associate themselves with the big sell out of our pub culture. I can see the benefit of making the most of your investment - providing for your family, feathering the nest. But lets not pretend its because of the smoking ban. You had plenty of warning and many other businesses are thriving.
Posted by: King Mush, Woolston on 1:57am Wed 6 Feb 08
One good thing about the smoking ban?
At least most pub carparks are now safe to leave your vehicle as there is a constant stream of nicotine addicts loitering about!
Cheap security eh?
One good thing about the smoking ban?
At least most pub carparks are now safe to leave your vehicle as there is a constant stream of nicotine addicts loitering about!
Why did the Government not allow non-food pubs and private clubs exemptions as stated in their Manifesto--because the Anti-Smoking organisations such as ASH pressured them into changing it by an organised lobbying of MP's.
Visit http://www.freedom2c
hoose.info and learn the TRUTH about the smoking ban.
Why did the Government not allow non-food pubs and private clubs exemptions as stated in their Manifesto--because the Anti-Smoking organisations such as ASH pressured them into changing it by an organised lobbying of MP's.
Visit http://www.freedom2c
hoose.info and learn the TRUTH about the smoking ban.
Second-hand smoke causes death and disease in non-smokers. The ban exists to protect those exposed to the deadly toxins from smokers who couldn't care less.
Lives before profits.
Second-hand smoke causes death and disease in non-smokers. The ban exists to protect those exposed to the deadly toxins from smokers who couldn't care less.
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