Jan 29, 2021
A private equity investment firm in the United States is hoping to buy Wolverhampton-based pubs and restaurants group Marston s.
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The Marston s headquarters in Wolverhampton
The Marston s board has received an unsolicited non-binding proposal from Platinum Equity Advisors of a cash offer for the entire share capital of the business.
Marston s, a listed company, says it will evaluate the proposal with its advisers and will make a further announcement in due course.
The group, which has nearly 1,400 pubs, sold off its brewing arm to create a joint venture with Carlsberg UK last year.
Pub giant Marston’s has been approached by a US private equity firm over a potential takeover.
Shares in the Wolverhampton-based company surged by more than a fifth immediately after it confirmed the proposal regarding a potential cash offer by Platinum Equity Advisors.
The proposal comes as all of Marston’s 1,368 pubs remain shut to customers due to the national coronavirus lockdown.
In a statement to investors, Marston’s said: “The board will evaluate the proposal with its advisers and a further announcement will be made in due course.
“There can be no certainty that any firm offer will be made for the company, nor as to the terms on which any firm offer might be made.”
Marston’s piques private equity interest
As reported by
Bloomberg earlier today (29 January), Marston’s received an unsolicited non-binding proposal from the American private equity firm regarding a possible cash offer for its share capital.
Marston’s has since confirmed the news, stressing that while it will evaluate the proposal, there can be no certainty that any firm offer will be made, nor as to the terms on which such an offer might be made.
With deliberations ongoing, Marston’s has called on Platinum to announce either its firm intention to make an offer or state that it does not wish to make one no later than 5pm on 26 February.
Shares in brewer and pub group Marston s rallied today after the company said it has received an informal takeover offer from a US private equity firm.
The FTSE-listed company, which has around 1,400 pubs across the UK, said Platinum Equity Advisors has made a non-binding proposal for a potential all-cash takeover .
The Wolverhampton-based company said the board will evaluate the offer and make a further announcement in due course, but added there is no certainty of a firm offer at this stage.
Takeover offer: Should Platinum buy Marston s, it would become the latest of a string of UK pub groups to be taken private
BBC News
Published
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British pub giant Marston s says it has received an unsolicited takeover offer from US private equity firm Platinum Equity Advisors.
Marston s said it was evaluating the proposal with its advisers and a further announcement would be made in due course.
Shares in the pub chain jumped almost 20% on the news.
Marston s added there could be no certainty that any firm offer will be made for the company .
Platinum Equity Advisors has made the offer for Marston s as the pub chain s share price languished close to a low not seen for more than 20 years.
When the London Stock Exchange closed on Thursday, shares in Marston s were changing hands for 74.80p each. That makes the pub chain look relatively cheap compared to this time last year when shares were 104p each.