Fresh bid to block Punch
Monday 26 July 1999
Whitbread will today seek to stop Punch substituting its name for Whitbread's in a legal document gathering 120 Allied companies into one for the purpose of the sale. Allied booked a court hearing to rubber stamp the reorganisation for today when it was recommending Whitbread's now-defunct offer.
In an admission of bloody-mindedness by Whitbread, its spokesman, David Reed, said: "Punch is looking to step into Whitbread's shoes and we don't see why we should make it easy for them." Whitbread and Allied have already shared fees to Clifford Chance and Linklaters, the law firms that drafted the reorganisation. But the move was about more than costs, Mr Reed said. "It was Whitbread who set all this going after Allied issued a profits warning. Whitbread spent weeks sorting out the scheme. All we're asking is that Punch does its own work."
He added the obstruction had nothing to do with Bass, Whitbread's rival, which is set to receive 700 pubs from Punch/Allied deal.
Punch responded to Whitbread's criticisms with characteristic disdain. "Whitbread can do what it likes," said Punch's spokesman. "It's just sour grapes."
If Whitbread is successful, Punch will have to apply for another court hearing in a couple of months time, increasing the risk of a counterbid for the pub estate in the meantime.
- 1 Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
- 2 Oil tanker with $100 million cargo goes missing off Texas coast
- 3 George Galloway left with severe bruising after attack in Notting Hill by man 'shouting about the Holocaust'
- 4 Lady al-Qa’ida: On the trail of Dr Aafia Siddiqui, the world’s most wanted prisoner
- 5 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
With Douglas Carswell joining Ukip, my party has taken another giant step forward
- < Previous
- Next >
iJobs Money & Business
Highly Attractive Salary: Austen Lloyd: BRISTOL - This is a very unusual law c...
£35000 per annum: Harrington Starr: Network Engineer (CCNP, CCNA, Linux, OSPF,...
£50000 per annum: Harrington Starr: DevOps Engineer (Systems Administration, L...
£60000 - £70000 per annum: Harrington Starr: A prestigious leading professiona...