The Anchor at Redbridge PUB giant Marston’s has been approached by a US private equity firm over a potential takeover. The potential cash offer by Platinum Equity Advisors came as all Marston’s 1,368 pubs remained shut to customers due to the national coronavirus lockdown. Marston’s pubs locally include the Anchor at Redbridge, the Cricketer’s Arms in Woolston and the One O Four and the Pitcher and Piano in Southampton. 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 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.
Marks & Spencer has reported an 8.4% drop in third quarter sales, with food growth of 2.2% not enough to compensate for a plunge in general merchandise sales.