UK: Greene King registers success in its tactic to buy Belhaven

Greene King has effectively succeeded in its move to buy Scottish brewer Belhaven, after fears it might be trumped by a last-minute rival bid, the Publican said on September 16.

Declaring that it had secured acceptances of its 625p per share representing 57.8 % of Belhaven's stock by the offer's first closing date, the Suffolk-based brewer/pubco added it was extending its deadline for acceptances by a fortnight to September 29.

Analysts believed a rival offer may have been tabled in the run up to the first deadline of September 15, but Belhaven shares are now at a discount to its suitor's offer price and the deal now appears to be in the bag.

E-malt.com, the global information source for the brewing and malting industry professionals. The bi-weekly E-malt.com Newsletters feature latest industry news, statistics in graphs and tables, world barley and malt prices, and other relevant information. Click here to get full access to E-malt.com. If you are a Castle Malting client, you can get free access to E-malt.com website and publications. Contact us for more information at marketing@castlemalting.com .