UK pub firm Greene King eyes Spirit takeover

LONDON, Sept 23 (Reuters) - British pub and breweries group Greene King (Other OTC: GKNGY - news) said on Tuesday it had approached the board of rival Spirit Pub Company (LSE: SPRT.L - news) over a potential takeover, reported to be worth more than 700 million pounds ($1.15 billion).

Greene King, whose 1,900-strong estate includes Hungry Horse, Old English Inns and Loch Fyne Restaurants, did not disclose any further information beyond the talks but a Financial Times report said the firm had offered around 110 pence per share for Spirit.

Greene King had a previous offer of 100 pence rejected, the FT said, citing a person familiar with the talks.

Greene King declined to comment on the FT report and Spirit Pub was not immediately available for comment.

Shares (Berlin: DI6.BE - news) in Spirit, which was split from Punch Taverns (LSE: PUB.L - news) in 2011 and runs pubs such as Chef & Brewer, Fayre & Square and Flaming Grill, were up 15 percent to 87.00p at 1346 GMT.

Shares in Greene King were up 1 pct to 801.5p.

($1 = 0.6103 British Pounds) (Reporting by Neil Maidment; editing by Sarah Young)