Dec 15 British pub operator Punch Taverns Plc
has agreed to a takeover offer from Dutch brewer
Heineken NV and investment partner Patron Capital, it
said on Thursday.
Britain's second-largest pub operator by number of pubs said
the deal had received support from its top three shareholders
representing about 52.3 percent of Punch's existing share
Under the deal, each Punch shareholder would receive 180
pence per share in cash representing a premium of more than 40
percent to Punch's Tuesday close, a day before the deal was
The offer values the share capital of Punch at 402.7 million
pounds ($502.17 million), the statement said.
Shares in Punch were up 7.9 percent at 191 pence at 1336
GMT, above the offer price of 180 pence.
($1 = 0.8019 pounds)
(Reporting by Rahul B in Bengaluru; editing by Jason Neely)