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Mitchells & Butlers Shares News & Articles

EI Group shareholders cheer 38.5% premium offer from Slug & Lettuce owner Stonegate

Pub company EI Group (EIG) has agreed an all cash offer of 285p from Stonegate Pubs, a private operator of 772 pubs and bars. The shares are trading at the offer price, up 38.5% from last night’s close. The acquisition values the company at £1.27bn pounds, and including debts equates to an enterprise value of £2.97bn, implying a multiple of 11.4 times EI Group’s underlying earnings before ...

Market Report: Merlin pressure rises as activist calls for action, Serco jumps on naval acquisition

UK stocks are in sharp reverse in early trade on Thursday as growing tensions between the US and China, and doubts over Theresa May's government leadership because of Brexit continue to gnaw away at investor confidence. The benchmark FTSE 100 slumps more than 80 points, or roughly 1.2%, to 7,247.66, although a swathe of companies going ex-dividend today (when new shareholders lose the right to ...

Mitchells & Butlers cans dividends to concentrate on pubs spruce-up and slashing debt

Pub operator Mitchells & Butlers (MAB) saw profits move marginally ahead in the latter six months of last year to 29 September, a welcome return to growth. But rising costs of food, drink, salaries and logistics continue to dampen performance overall. Operating profit, after stripping out a handful of one-off factors, slipped from £308m to £303m. That chimes with fairly lacklustre ...
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