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Shares jump as Breare is reported to have made W&D bid
Following reports earlier this week of Pubmaster's interest in the Wolverhampton and Dudley brewery business, sources close to the deal say that Robert Breare's Noble House Pub Company has made a bid. The alleged bid, led by venture capitalists Botts and Co, is understood by city analysts to be set at 500p a-share, valuing the company at £472m. It was following interest from leisure entrepreneur Breare last October that W&D effectively put itself up for sale. However, sources close to the deal say that Breare wants an extra week added to the 5 April deadline imposed by W&D, to pay due diligence to the deal. A third party rumoured to be making a bid is the management team led by managing director, David Thompson. Shares jumped 16p yesterday to 460p, indicating that what has been a long, drawn-out auction, may be reaching a conclusion.
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