THE pub group and brewer Marston’s has rejected a £666million takeover bid from an American private equity firm.

Marston’s revealed last week that it had received an offer from Platinum Equity Advisors.

Marston’s pubs locally include the Anchor at Redbridge, the Cricketer’s Arms in Woolston and the One O Four and the Pitcher and Piano in Southampton.

Its board said the 105p per share offer from Platinum “significantly undervalues” the business and members unanimously rejected it.

Pub chain Marston's could be bought by US private equity firm

The 105p offer was Platinum’s third attempt after bidding 88p and then 95p in December, Marston’s board said.

Marston's plan to cut jobs due to coronavirus

Marston’s has 1,368 pubs, all shut because of the coronavirus lockdown.

In October, it announced plans to cut 2,150 jobs across its pubs because of the impact of the virus.

Last year, it merged its brewing operations – which include Ringwood Brewery – with Carlsberg UK to create a £780m joint venture, in which it now retains a 40 per cent stake.