December 15, 2016 / 12:46 PM / 9 months ago

Heineken wins takeover battle for Punch Taverns - FT

Dec 15 (Reuters) - Dutch brewer Heineken NV has won the struggle to take over Punch Taverns Plc, beating a higher bid from one of the British pub operator’s founders, the Financial Times reported on Thursday, citing people close to the companies.

Punch, Britain’s second-largest pub operator by number of pubs, said on Wednesday it had received two takeover approaches, a possible 174 pence per share offer from Heineken and a higher 185 pence per share bid from Emerald Investment Partners, founded by Alan McIntosh, the pub group’s former finance director.

Punch and Emerald Investment Partners declined to comment, while Heineken was not immediately available for a comment. (on.ft.com/2hRoPf2) (Reporting by Rahul B in Bengaluru and Philip Blenkinsop in Brussels; Editing by Saumyadeb Chakrabarty)

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