Pubs operator Mitchells & Butlers will ask Britain’s takeover watchdog to rule whether rebel shareholders are attempting to gain control of the group after they blocked the appointment of a chairman.
Piedmont, an investment vehicle owned by billionaire Joe Lewis that owns 23 percent of M&B, obstructed the appointment of an independent chairman and vetoed three candidates at the final stage despite being involved in the hiring process from its beginning.
In other M&A and corporate finance news reported by Reuters and other media:
Beijing Automotive Industry Holding Corp (BAIC) might still be interested in buying General Motors’ Saab unit, the Chinese car company’s general manager says. “I would just say, ‘stay tuned a little bit’,” he says.
Honiton Energy Group has hired Morgan Stanley to help the China-focused wind power developer lure a new investor, in a deal that could value the entire company at up to $250 million, two people familiar with the details say.
Deutsche Boerse says it will not increase its bid for a controlling stake in the Warsaw Boerse after the Polish government requested an improved offer for the exchange.