Lewis, through his investment vehicle Piedmont, has taken his stake from 23.12% to 25.65%, edging him closer to the 30% stake threshold at which he would be forced to stage a full takeover of the group.
Crossing the 25% threshold also gives Lewis the ability to block any resolutions proposed by the company or other investors.
Under Takeover Panel rules the billionaire will have to wait to mid-April before making another potential approach, after having two indicative offers for the operator of the All Bar One and O’Neills brands rejected earlier this year. Lewis had indicated a possible bid of 230p per share for the group, which would have valued it at around £3bn including debt.
News > Company & City News
Lewis ups stake in M&B again
Related topics: Company & City News
Joe Lewis, the largest shareholder in Mitchells & Butlers (M&B), has upped his stake in the managed pub operator for the second time in a week, further fuelling speculation that he will mount a further bid for the company next year.
Copyright - Unless otherwise stated all contents of this web site are © 2013 - William Reed Business Media Ltd - All Rights Reserved - For permission to reproduce any contents of this web site, please email Robert Proctor - Full details for the use of materials on this site can be found in the Terms & Conditions
Key Industry Events
Find us on Facebook
Spotlight
  How to... Handle noise complaintsYou have owned and traded your premises for a number of years. On weekend nights in particular... |
 Top tips on outdoor furniture and equipmentPubs must give their outdoor areas some attention if they are to pack in the punters over... |
 The Big Interview: Tim Hulme, BIITim Hulme, recently-appointed chief executive at the BII, tells Michelle Perrett how he plans to revive the... |
 Top tips for better gaming machines returnsModern pub retailing is all about food and drink isn’t it? Well, no. The majority of pubs... |