Punch Taverns bidder Emerald rumoured to be discussing teaming up with C&C - report
Punch Taverns [LON:PUB] suitor Emerald Investment Partners is rumoured to be talking to the Irish drinks group C&C [ISE: GCC, LON:CCR] about joining forces to bid for the UK-based pubs operator, The Times reported.
Punch has recommended a GBP 1.78bn (USD 2.15bn) bid from Heineken [HEIA:AS], the Dutch brewer, and Patron Capital Advisors, and Emerald is considering a counterbid, according to unsourced chatter reported in the newspaper’s City People column.
Emerald has been discussing the matter with a number of prospective partners, the item reported.