David and Sharon Halstead tried to secure a new lease but have been told they will be evicted in March LANDLORDS of a closure-threatened pub are trying to rally as many people as possible to attend a virtual meeting to support them so they can still stay in charge. Tenants Sharon and David Halstead. from the Wilpshire Hotel, Whalley Road, Wilpshire, had approached owners Enterprise Inns (EI Group) to change their lease. They said it was necessary to keep the pub viable during difficult times for industry with coronavirus shutdowns massively affecting turnover. They tried to convert their tied tenancy to a ‘free of tie’ arrangement in line with the terms of the Pubs Code, which requires the pub operators to offer a ‘market rent’-only option to tenant landlords and landladies.
2nd February 2021
Pub group Marstonâs has rejected a takeover offer worth around £690m from US private equity firm Platinum Equity on the basis that it âsignificantly undervaluesâ the business.
Having revealed on Friday that it had received an âunsolicitedâ takeover approach, the company said yesterday afternoon that its board had unanimously dismissed a 105p per share offer having already rejected two earlier proposals made in December worth 88p and 95p a share.
The latest offer represented a 19% discount to the companyâs share price at the beginning of 2020, before the onset of the pandemic. Marstonâs highlighted that since then, it had completed a âtransformativeâ deal with Carlsberg by merging its brewing division into a £780m joint venture. It also recently announced an agreement to operate 156 pubs previously run by the Welsh brewer SA Brain, which the board said would be âaccretive to earnings in the first full year of
Realignment moves at Stonegate has seen the departure of one of the companies senior directors.
Jon Dale, director of communications for Stonegate, and previously head of corporate communications with Ei Group, has left the company.
Tim Painter, HR Director, Stonegate Group said: “We confirm Jon Dale has left the company following our business realignment as we continue to integrate the Stonegate and Ei business functions.
“Kate Vicary, formerly Director of Special Projects is now appointed Director of Communications and Business Planning moving forward. We thank Jon for all his help and support throughout the integration period.”
Dale, who joined Ei Group from Sainsbury s Argos in 2017, was responsible for re-energising the business internal and external communications, public affairs, events and stakeholder engagement strategies before it was sold to Stonegate for £1.27bn in March 2020.
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(Reuters) - Marston’s rejected a 666 million pound ($910 million) takeover proposal from Platinum Equity Advisors on Monday, saying it significantly undervalued the British pub operator.
FILE PHOTO: A view shows a metal sculpture of Marston s barrels, following new restrictions to curb the spread of the coronavirus disease (COVID-19) infections, in Shobnall, in Burton-on-Trent, Britain October 15, 2020. REUTERS/Carl Recine
Shares in the London-listed firm, which fell 40.6% in 2020, closed 6.1% higher at 86.2 pence, still well below Platinum Equity’s offer of 105 pence per share.
Marston’s, the brewer of Pedigree, Hobgoblin and Lancaster Bomber beer, said this was the U.S. private equity firm’s third takeover proposal, following offers of 88 pence and 95 pence a share in December which it unanimously rejected.
1st February 2021
Following press speculation, pub group Marstonâs confirmed on Friday that it has received an âunsolicitedâ takeover approach from US private equity firm Platinum Equity Advisors.
The firm stated that it was evaluating the proposal with its advisers and a further announcement would be made in due course. Financial details werenât revealed with Marstonâs stating that there was âno certainty that any firm offer will be madeâ.
With its business hit hard by the shutdown of the hospitality sector for much of the last year, Marstonâs share price has languished close to a 20-year low. It jumped nearly 20% on the potential takeover news but the company remains relatively cheap compared to this time last year. At closing prices on Thursday, Marstonâs was valued at about £473m.