Inactive Instrument

Restaurant Group

Equities

RTN

GB00B0YG1K06

Pizza Express owner ditches Restaurant Group offer plans

November 07, 2023 at 07:14 am EST

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 GBP500 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%

By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about Restaurant Group

UK Chancellor Hunt meets top UK bank heads over plans to boost City	Jan. 23	AN
Official List Says Removal Of Listing Of Restaurant Group's Shares Of 28 1/8p Each	Dec. 22	RE
Apollo Global Management Finalizes Restaurant Group Takeover	Dec. 21	MT
Restaurant Group takeover by Apollo funds now complete	Dec. 21	AN
The Restaurant Group plc(LSE:RTN) dropped from FTSE All-Share Index	Dec. 21	CI
Apollo Investment Fund X, L.P., managed by Apollo Global Management, Inc. completed the acquisition of The Restaurant Group plc from TRG Directors, Oasis Management Company Ltd., Irenic Capital Evergreen Master Fund LP and others.	Dec. 20	CI
Restaurant Group takeover by Apollo to complete on Thursday	Dec. 20	AN
Apollo's Takeover of Restaurant Group Secures UK Court Approval	Dec. 20	MT
The Restaurant Group plc(LSE:RTN) dropped from S&P Global BMI Index	Dec. 18	CI
Live Co to cut jobs; SDX Energy in strategy shift	Nov. 27	AN
Pizza Express owner ditches Restaurant Group offer plans	Nov. 07	AN
Wheel Topco Abandons Takeover Interest in Restaurant Group	Nov. 07	MT
Wheel Topco Doesn't Plan to Buy Restaurant Group, Citing Market Conditions	Nov. 07	CI
UK's Restaurant Group Closes Sale of Leisure Business to Big Table Group	23-10-31	MT
The Big Table Group Limited acquired of 75 Frankie & Benny's and Chiquito Restaurants from The Restaurant Group plc.	23-10-29	CI
Stocks firmly in red on ECB's Lagarde comments	23-10-26	AN
Restaurant Group Attracts New Takeover Interest, No Proposal Yet	23-10-26	CI
Pizza Express eyes up potential takeover of Restaurant Group	23-10-26	AN
Stocks down ahead of US data and ECB decision	23-10-26	AN
Pizza Express owner eyes Restaurant Group	23-10-26	AN
The Restaurant Group Confirms Receipt of Diligence Information Request from Wheel Topco	23-10-26	MT
PizzaExpress owner makes play for Restaurant Group	23-10-26	AN
PizzaExpress owner weighs possible offer for Wagamama owner Restaurant Group	23-10-26	RE
Pizza Express mulls dishing up rival bid for Restaurant Group	23-10-25	AN
Barclays Boosts Restaurant Group PT, Maintains Underweight Rating	23-10-17	MT

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Company Profile

The Restaurant Group plc is a United Kingdom-based company engaged in hospitality businesses. The Company operates over 400 restaurants and pub restaurants. The Company's segments include Wagamama, Pubs, and Concessions. The Company operates a portfolio of brands, which include Wagamama, Firejacks, Brunning and Price, TRG Concessions, and Coast to Coast, among others. The Company also operates pub restaurants and a concessions business, which trades principally at United Kingdom airports. The Wagamama brand offers all kinds of rice and noodle dishes, alongside fresh salads and shareable sides, desserts, fresh juices, hot drinks, and others. The Firejacks brand offers steaks and burgers. The Brunning and Price brand serves cask ales, wines, and British dishes. TRG Concessions brand portfolio includes table service, counter service, sandwich shops, pubs, and bars. The Coast to Coast brand offers American home-style dining.

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Analysis / Opinion

The Restaurant Group plc : +37% after Apollo takeover bid

October 12, 2023 at 05:10 am EDT

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