Spirit Pub rejects bid from Irish cider maker C&C

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Oct 23 (Reuters) - Britain's Spirit Pub Co Plc said it had rejected a takeover proposal from Irish cider maker C&C Group Plc (Other OTC: CCGGY - news) .

Spirit Pub, which is engaged in takeover talks with brewer and pub owner Greene King Plc (LSE: GNK.L - news) , said C&C, the maker of Magners and Bulmers, had until Nov. 20 to announce a firm offer.

Greene King has offered to buy Spirit Pub in a cash-and-stock deal valued at 723 million pounds ($1.16 billion).

The details of the C&C proposal were not disclosed, but the Times newspaper reported that C&C was offering 115 pence per share in cash and stock, with at least a third in cash.

This would top Greene King's offer of 109.5 pence per share, comprising 8 pence in cash and 0.1322 Greene King shares for every Spirit share.

Spirit Pub and C&C representatives were not available for comment. A spokeswoman for Greene King declined to comment.

Spirit Pub has a market value of just over 700 million pounds. (1 US dollar = 0.6238 British pound) (Reporting by Abhiram Nandakumar in Bangalore; Editing by Maju Samuel)