Punch Pubs considering takeover of smaller rival

Sky News reports that Punch Pubs, which is owned by Fortress Investment Group, is among a number of parties which have requested access to information about smaller rival Amber Taverns from advisers handling a sale. This comes as the Punch Pubs owners are considering a potential takeover of Amber, in a deal that would bring the leisure group's portfolio of sites to almost 1,500. Sapient Corporate Finance is leading the auction, which could bring in a price of around £200m. A number of other major pub groups including Heineken and Admiral Taverns are also expected to be considering bids for the Blackpool-based company.

Sky News