December 14, 2016 / 5:41 PM / a year ago

Emerald confirms proposal for Punch Taverns

LONDON (Reuters) - Emerald Investment Partners, the investment firm of Punch Taverns PUB.L founder Alan McIntosh, confirmed on Wednesday that it had proposed to buy Punch for 185 pence per share.

Emerald, which is bidding against global brewer Heineken (HEIN.AS), said its proposal did not constitute a firm intention to make an offer. It said it owns 2.2 percent of Punch’s shares.

Reporting by Martinne Geller in London; Editing by Adrian Croft

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