Business Services Industry

Evening Standard, London, Market Report Column.

Knight Ridder/Tribune Business News, September, 1999 by Colquhoun, Lachlan

Knight Ridder/Tribune Business News

Sep. 3 -- GREENALLS UP ON TALK OF A UKPOUND 1 BILLION PUBS BID: It was looking like last orders today for Greenalls, the pubs and De Vere hotels chain, as the shares raced up 23 1/2 pence to 394 pence. It has confirmed recent speculation that it is in talks with Scottish & Newcastle, up 11 pence at 613 pence, about the sale of its pubs, lodges and restaurants chain businesses. The talks were still at an early stage.

City speculators expressed disappointment at the move, but refused to rule out the possibility of S&N making a full bid for Greenalls. Brokers say Greenalls has been demanding somewhere in the region of UKpound 1 billion for the business. That compares with Greenalls' total stock market price tag of...

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