The acquisition of Allied Domecq’s pubs and off-licences by Whitbread could be announced tomorrow or Wednesday, according to the Financial Times.
It reports the deal is back on track following what several of the weekend newspapers had described as a collapse on Saturday. The Daily Telegraph reports this morning that Whitbread is struggling to keep the £2.35bn talks alive for the 3,600 pubs, the First Quench retail chain and a stake in Britvic.
The Times says the talks are “in shreds” and The Independent “in the balance”.
Punch Taverns, Bass and Nomura, are waiting in the wings once the exclusivity period agreed with Whitbread ends.
Financial Times 24/05/99 page 17 (Observer), page 18 (Lex), page 19
The Daily Telegraph 24/05/99 page 25, page 29 (The City Checklist)
The Guardian 24/05/99 page 22
