PRODUCT NEWS
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Wolves takes Pubmaster to court over leaks |
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17 Jul 2001 . BY |
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The long-running battle for control of Wolverhampton and Dudley Breweries (W&DB) has taken a bitter turn, with W&DB launching legal action against bidder Pubmaster, for revealing confidential commercial details to the brewer's rivals. W&DB claims that Pubmaster, who tabled a 480p-a-share hostile bid last month, has disclosed commercially sensitive information to at least two W&DB rivals, namely Bass and Carlsberg-Tetley. W&DB chair, David Thompson, says high court proceedings are necessary to 'prevent further dissemination': The fact that such commercially sensitive information has been distributed to our largest competitors is of very serious concern to us. We have no option but to prevent any further misuse of our data. Pubmaster is intending to sell W&DB's brewing business if its £453m bid is accepted by shareholders, and has been in discussion with possible buyers. The company will keep the 1,500-strong pub estate. Pubmaster chief executive, John Sands, believes the company complied with the terms of the confidentiality agreement: W&DB is becoming increasingly desperate and this latest announcement is a smokescreen from Mr Thompson which is designed to cover up his lack of a credible alternative to our bid. Shareholders will decide next month whether to accept the Pubmaster offer, or whether to back W&DB's plan to return £200m to shareholders through disposals.
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