Marshall Wace Pushes Pub Merger

Mar 31 2008 | 9:01am ET

Marshall Wace isn’t taking no for an answer, as the London-based hedge fund continues to push for a merger between two of the U.K.’s largest pub owners.

The hedge fund, which reportedly believes a link-up between Punch Tavern’s managed pubs business and Mitchells & Butlers could produce some £50 million in synergies, has reduced its 6% stake in Punch and boosted its share of M&B.

On Friday, Punch ended its bid for a 50-50 merger with M&B, but Marshall Wace is thought to think a merger remains possible due to the structure of securitizations at both companies.

Marshall Wace isn’t the only alternatives group with an interest: Private equity firm Permira reportedly made an offer for a minority stake in M&B, offering the troubled pubs group a capital injection.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.