Marston’s gets unsolicited buyout proposal from Platinum Equity By Reuters

(Reuters) – British pub operator Marston’s confirmed on Friday it had received an unsolicited non-binding proposal from Platinum Equity Advisors for a possible cash offer for the company.

Marston’s, which had a market value of about 473 million pounds ($649 million) as of last close, said it would evaluate the proposal with its advisers.

The company’s shares, which fell 40.6% in 2020, were up 19% at 89.2 pence by 1139 GMT.

Pubs, restaurants and other leisure businesses have been battered by coronavirus-induced curbs, and their prospects were further hammered as Britain announced its third national lockdown earlier this month to counter rising COVID-19 cases involving a new coronavirus variant.

Bloomberg reported earlier on Friday, citing people with knowledge of the matter, that Platinum Equity’s proposal is to take the company private. https://bloom.bg/2MyjrSv