Pub chain Marston’s shares fizz on takeover bid
Shares in Martson’s jumped this morning after the pub chain confirmed it had received a takeover offer from a US private equity firm.
In a statement this morning the British brewer said it had received an “unsolicited non-binding proposal” from Platinum Equity Advisors over a potential cash bid.
Shares in Marston’s rose as much as 22 per cent following the announcement.
California-based Platinum Equity has assets under management of roughly $23bn, and its portfolio includes Cision and Clipper Windpower.
It comes after Marston’s last year completed its £780m joint venture with Carlsberg.
Shortly before Christmas it inked a deal to operate 156 Brains pubs in Wales, saving the Cardiff-based beer brand from collapse.
But the company has called for urgent additional support from the government after it was forced to shutter its entire estate of more than 1,300 pubs due to the latest lockdown.
Martson’s today said it will evaluate the proposal, warning there was no certainty that a deal would go ahead.
Platinum has until 5pm on Friday 26 February to either make a firm offer or withdraw its interest.