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City Pub Group – “pleased to announce” recommended offer, but about that stated “premium”…

By Steve Moore | Thursday 16 November 2023


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


City Pub Group (CPC) is “pleased to announce” that it has agreed a recommended offer from Young & Co.'s Brewery (YNGA) with “a total implied value of 145 pence per City Pubs share… approximately £162 million”, including that it considers “the cash certainty and ongoing exposure to the combined group provided by the transaction… provide City Pubs shareholders with a significant acceleration to potential value creation”. What of this?
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