GNK.L - Greene King plc

LSE - LSE Delayed price. Currency in GBp
849.20
+0.20 (+0.02%)
At close: 4:35PM GMT
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Previous close849.00
Open849.20
Bid848.60 x 0
Ask849.60 x 0
Day's range848.80 - 849.40
52-week range490.40 - 865.80
Volume3,531,933
Avg. volume4,507,601
Market cap2.634B
Beta (3Y monthly)N/A
PE ratio (TTM)21.94
EPS (TTM)N/A
Earnings date28 Nov 2019
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target est607.00
  • PR Newswire

    HBK Investments LP - Form 8.3 - Greene King PLC

    FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”) 1.         KEY INFORMATION ...

  • Reuters - UK Focus

    UPDATE 3-Pink gin with strawberries: Wetherspoon patrons defy Brexit gloom

    J D Wetherspoon's eurosceptic boss said customers were unfazed by political wrangling over Brexit after the pub group reported a rise in full-year sales and profit thanks to demand for products from pink gin and coffee to breakfast and beer. Britain's Wetherspoon, like most pub and restaurant chains, has been battling increased costs due to a minimum wage hike, higher property prices and power bills. It has also been investing in its more labour-intensive food and coffee business.

  • Reuters - UK Focus

    RPT-Foreign trophy hunters scent bargains in Britain as pound weakens

    Private equity and foreign investors, including Hong Kong's richest man, have swooped on pub operators, brewers and some of Britain's most popular tourist attractions, as the pound has slipped. Hong Kong Exchanges and Clearing's $39 billion approach for the London Stock Exchange on Wednesday is the latest in a flurry of dealmaking, although acquirers have mainly targeted small- and mid-cap companies that make most of their revenue in sectors that have been hammered by Brexit.

  • Reuters

    Greene King sales improve ahead of proposed takeover

    Last month, the brewer of Old Speckled Hen and Abbot Ale agreed to the bid from Hong Kong-listed CK Asset , which said it was seeking to increase its UK presence even as Brexit concerns loom large. The proposed takeover comes at a time when Greene King's rivals JD Wetherspoon , Mitchells & Butlers and Marston's are struggling with a rise in minimum wage and higher costs. Greene King's investors are yet to vote on the takeover bid.

  • M&S's Relegation Isn't Such a Bad Look, Really
    Bloomberg

    M&S's Relegation Isn't Such a Bad Look, Really

    (Bloomberg Opinion) -- Marks & Spencer Group Plc showed off its key looks for the autumn winter season this week. It is aiming to woo shoppers with 1970s-inspired prints, jewel toned blouses and tailored coats. But the high street stalwart has gone out of fashion with investors. Its shares are set to fall out of the FTSE 100 index for the first time in 35 years.As a bellwether for the British retail industry, M&S’s demotion underlines the dire condition of the U.K.’s store groups. But for the seller of Percy Pig sweets to cashmere sweaters, it isn't the disaster it might first appear to be.Its shares have fallen 33% over the past year, and at about 190 pence are close to their level at the depths of the financial crisis.Any further decline in the M&S share price precipitated by the relegation would be unwelcome to its army of individual investors, which own about 20% of the stock.But a fall out of the FTSE 100 would get the demotion over with. Talk of M&S’s demise wouldn’t keep coming round every quarter that M&S was on the cusp. That would at least give Chairman Archie Norman and his team a break from one pressure.And they have plenty of others to contend with. The clothing market remains extremely difficult. Analysts at Goldman Sachs expect a 3% decline in same-store U.K. clothing and home furnishing sales in M&S’s fiscal first half. Like-for-like food sales, they forecast, will be flat.Meanwhile, M&S must make a go of its joint venture with Ocado Plc, after buying half of the online retailer’s U.K. division for up to 750 million pounds ($916 million). Norman wants to double M&S’s food sales over the next five years or so to about 12 billion pounds – but he has to convince customers to switch from Ocado products currently supplied by Waitrose to alternatives from M&S.If the share price is hit further by the demotion from the FTSE 100, then it could finally force the company to consider splitting up its food and clothing operations. With profits from both divisions under pressure, and undemanding retail multiples, there’s little value to be gained from a break-up right now. But if Norman can make a go of the Ocado deal, this should elevate the worth of the food business, making a split more compelling.The other possibility is that a predator emerges. Bids for Greene King Plc in the U.K. and Metro AG in Germany show that appetite is there for consumer groups. While M&S’s old adversary Philip Green isn’t in a position to pounce, private equity might, particularly if it backed Norman and Justin King – handily, the former Sainsbury boss is a non-executive at the retailer. The group might just also appeal to Amazon.com Inc. But any bidder would have to get comfortable with the risks of both Brexit and M&S’s 9.3 billion pounds of pension liabilities. While the program had a 900 million-pound surplus at March 30, any change of control could see the trustees push a new new owner to inject more funds – possibly as much as 1 billion pounds.That leaves Norman with grinding out the promised turnaround. He will be hoping M&S’s spell in the FTSE 250 index will be a fleeting trend, rather than a wardrobe staple.\--With assistance from Elaine He.To contact the author of this story: Andrea Felsted at afelsted@bloomberg.netTo contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Reuters - UK Focus

    LIVE MARKETS-Big equity rally from here if history repeats

    * European stocks flat * FTSE buoyed by sterling weakness, AstraZeneca * BHP slides 1.8%, Pandora jumps 10% after results * Elanco Animal Health to buy Bayer's animal health unit for $7.6 bln * Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. It's only done that twice before - in mid-2012 and mid-2016 - and in both instances the German and French blue chips staged a massive rally ( 30% on average) the year after, boosting the European benchmark STOXX 600 index.

  • Reuters - UK Focus

    LIVE MARKETS-Watch out for 2020 earnings downgrades

    * European stocks up 0.2% * FTSE buoyed by sterling weakness, AstraZeneca * BHP slides 0.9%, Pandora jumps 8% after results * Elanco Animal Health to buy Bayer's animal health unit for $7.6 bln * Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Reach her on Messenger to share your thoughts on market moves: josephine.mason.thomsonreuters.com@reuters.net WATCH OUT FOR 2020 EARNINGS DOWNGRADES (0955 GMT) With the second-quarter earnings nearly over and confirming an earnings contraction for the second straight quarter, consensus of a 10% growth in 2020 seems to be ambitious. UBS equity strategists recently reduced their 2020 earnings growth expectations sharply below consensus to -2% in a top-down model, basing it on their reduced GDP estimates.

  • What to Watch: Nuclear business sold for £250m, Persimmon profits fall, and crypto company inks energy deal
    Yahoo Finance UK

    What to Watch: Nuclear business sold for £250m, Persimmon profits fall, and crypto company inks energy deal

    A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad.

  • PR Newswire

    Norges Bank - Form 8.3 - Greene King PLC

    FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”) 1.         KEY INFORMATION ...

  • Reuters - UK Focus

    MORNING BID EUROPE-Markets go back and forth

    Stock markets are seesawing-- Wall Street enjoyed a third day of gains following the government’s decision to delay restrictions on Huawei for another 90 days. China’s new lending rate for companies came into effect, set six basis points below the previous rate. The Bundesbank warned yesterday of another German quarterly contraction, political risks continue in Italy, Britain and Hong Kong, and Federal Reserve Chairman Jerome Powell my use his Jackson Hole airing on Friday to dash hopes U.S. interest rates will be cut by 50 or 75 basis points by the end of the year.

  • Reuters - UK Focus

    LIVE MARKETS-On our radar: beers, watches and supermarkets

    Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. The mood across riskier assets like equities improved markedly in recent days amid hopes of stimulus in Germany and China which have soothed worries about a global economic slowdown that rattled markets last week. In corporate news, dealmaking is brewing in the UK pub industry, with Hong Kong's richest man snapping up Greene King, the latest sign that the cheap sterling is attracting foreign suitors even as Brexit turmoil deepens.

  • Sky News

    Greene King to be sold in £4.6bn takeover deal with Hong Kong real estate giant

    Britain's largest pub and brewery company Greene King has agreed to a £4.6bn takeover by a Hong Kong-based conglomerate. CK Asset Holdings, founded by Hong Kong's richest man Li Ka-shing, will pay £2.7bn for the 220-year old brewery company and take on its debt, worth an additional £1.9bn. Greene King, based in Bury St Edmunds, Suffolk, was founded in 1799 and operates nearly 3,000 pubs, restaurants and hotels, and owns brands including Hungry Horse and Chef & Brewer.

  • UK pubs operator Greene King agrees to £4.6 billion Hong Kong offer
    Reuters

    UK pubs operator Greene King agrees to £4.6 billion Hong Kong offer

    CKA already owns a near 3% stake in Greene King, also owner of the Chef & Brewer and Hungry Horse chains and whose shares jumped 51% to match the bid price. The proposed takeover comes after Greene King, with 2,700 pubs, restaurants and hotels across the UK, has like others struggled with a rise in the minimum wage and a move away from pub drinking among younger Britons. Britain's looming exit from the European Union risks denting the economy but in the meantime the weakness of sterling has made it cheaper for foreign buyers to snap up UK assets.

  • Reuters - UK Focus

    UPDATE 2-UK pubs operator Greene King agrees to 4.6 bln pounds Hong Kong offer

    British pubs operator Greene King has agreed to a 4.6 billion pounds ($5.6 billion) bid from a Hong Kong-listed company founded by the territory's richest man Li Ka-Shing, which said it was seeking to increase its UK presence even as Brexit looms. The offer from CK Asset, whose founder ranks among Asia's best-known entrepreneurs, values shares in the brewer of Old Speckled Hen and Abbot Ale at 850 pence each or 2.7 billion pounds in total, a premium of about 51% to their Friday close. CKA already owns a near 3% stake in Greene King, also owner of the Chef & Brewer and Hungry Horse chains and whose shares jumped 51% to match the bid price.

  • Greene King shares surge on £2.7bn takeover deal
    Yahoo Finance UK

    Greene King shares surge on £2.7bn takeover deal

    Hong Kong-based property developer CK Asset Holdings announced late on Monday a 850p-a-share takeover bid for Greene King.

  • Reuters - UK Focus

    UPDATE 2-Stimulus hopes drive up European shares for second session

    European shares ended higher for a second straight session on Monday on signs that measures would be adopted to prop up growth in major economies, while bond yields rebounded amid improved global sentiment plagued by recession worries. The pan-European STOXX 600 index, hammered since the start of August by worries of a possible global slowdown, ended 1.2% higher, with Frankfurt shares up 1.3%, recovering from last week's six-month low. "It's a continuation of what we saw on Friday, the hope that their government will step in to provide fiscal stimulus to boost growth in the economy," said Carsten Brzeski, chief economist, Germany at ING.

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