The firm bidding deadline for Spirit Group – which operates an estate of more than 1,800 managed pubs – is set for noon today in an auction which could see the business sell for around £3bn.

Over the summer and early autumn, Spirit received several approaches from parties thought to include Punch Taverns, property investor Robert Tchenguiz and Australian bank Macquarie.

Punch Taverns is expected to make a last minute bid for the group as are the Barclay brothers Sir David and Sir Frederick, owners of London’s Ritz hotel and The Daily Telegraph newspaper, who have requested an information memorandum and are expected to make an eleventh-hour offer.

According to reports, of all the potential bidders competing in the auction, it is understood that Punch is the only one that could complete a deal before Christmas.

In early September, Spirit announced that it is to sell 178 city centre pubs and bars to the Tattershall Castle Group (TCG) for £177m. Over the past 18 months, Spirit has acquired Scottish and Newcastle Retail, sold Premier Lodge and 364 pubs to the Globe Pub Company and agreed a £2bn refinancing.

Spirit is owned by a consortium including Blackstone Group and Texas Pacific. Details: www.thespiritgroup.com