'Mitchells & Butlers rebuffs offers for chains of pubs'

Mitchells & Butlers has turned down several early approaches from private-equity firms for its All Bar One and Browns chains. One insider said if the pubs group was offered more than the chains were worth to the business it would consider it but added: "They are not for sale." New chairman John Lovering's strategic review of M&B last month encouraged the belief that several chains could be up for sale - The Evening Standard​

Labour will support co-operatives to run organisations from football clubs to pubs and shops. More protection for community assets like pubs which are threated with change of use. Extension of the use of participatory budgeting to allow people a bigger say on how local funds are spent - The Guardian​

The Labour Party threatened to legislate against major pub groups like Enterprise Inns PLC and Punch Taverns PLC if they fail to fundamentally change their business models. In its election manifesto, launched Monday, Labour stressed the importance of the nation's pubs to their communities and said it would step in if the "tied pub" companies failed to change. "A non-tie option should be available for pub tenants," Labour said in its manifesto. "We will act if the industry fails to make progress on this." - Wall Street Journal​

Shares in Punch Taverns jump 4.3 percent, the second biggest FTSE 250 gainer, boosted by a double-upgrade from Panmure Gordon to "buy" from "sell" ahead of the pubs operator's first-half results due on April 22. Panmure says in a note that Punch will be able to demonstrate stabilisation in its leased pub business. We still have concerns over the performance of the managed pub business; however, we think the appointment of a new CEO with managed pubs experience would be a positive catalyst for the shares," the broker says - Reuters UK​