A day after revealing its hefty hedging losses, the predators are circling pubs group Mitchells & Butler.
The company has just announced that it has received a number of "preliminary and tentative expressions of interest", although no discussions have yet taken place. The news sent the company's shares soaring 64.25p to 465.25p.
Punch Taverns, up 23p to 699p, has been suggested as a possible merger partner. But analysts have so far been sceptical that such a deal would make sense, nor would any potential purchaser find it particularly easy to raise the debt required, given the current state of the credit markets. Still, it seems more than one party is willing to give it a go.
