Punch Taverns in M&B merger move

ONE of Britain’s largest pub operators, Punch Taverns, is understood to have made an offer for its troubled rival Mitchells & Butlers, it was reported yesterday.

A merger between the two firms would create a pub giant worth around £3.7 billion (€4.9bn), with more than 10,500 outlets.

It is not known how much Punch has offered for M&B, but the group is understood to have appointed Morgan Stanley and Goldman Sachs to advise it on the deal, Sunday newspapers said.

Punch is expected to make an announcement to the London Stock Exchange tomorrow, clarifying its intentions in the matter.