Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Restaurant Group PLC - London-based restaurant chain operator, owner of Wagamama and Frankie & Benny’s - Wheel Topco Ltd, owner of PizzaExpress Group Ltd, confirms that it will not make an offer for Restaurant Group ‘due to market conditions’. Wheel Topco agreed in October to a takeover by New York-based Apollo Global Management for just over £500 million in cash, or 65 pence per TRG share. In late October it confirmed that Wheelco was considering making a rival offer and had sent a diligence request, in response to a Sky News report which claimed other potential counter-bidders were also considering offers.
Current stock price: 64.40p, down 2.9% in London on Tuesday at midday
12-month change: up 80%
Copyright 2023 Alliance News Ltd. All Rights Reserved.