M&B Deal No Go

By Claire Miller

- Last updated on GMT

Related tags: Stock market, Punch taverns

The deal between Punch Taverns and Mitchells and Butlers that would have seen the sale of Punchs managed pubs division Spirit, has fallen through

THE MITCHELLS & Butlers - Punch Taverns deal has once again fallen through.

Punch have walked away from the deal because they still could not conclude it in a manner suitably beneficial for its shareholders.

In a statement released this morning to the stock market, the company said:
“Punch has concluded that pursuing any transaction with M&B, including any transaction involving Punch’s managed pub business, would not be in the best interests of Punch shareholders at the current time and confirms that all such discussions have terminated.”

It stated that the company was not at this time interested in forging the deal with the help of a third party, but has reserved the right to weigh back in at a later date.

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