UK: S&N sets pub bid deadline
There are there bidders left in the auction process, the pubs groups Laurel and Spirit, and CVC-Cinven, a private equity pairing.
Although all three are thought to have bid around the £2.5bn, Laurel, which is owned by Deutsche Bank's private equity arm and runs just over 600 ex-Whitbread pubs, is seen as the favourite.
Fitch Ratings has cut its debt rating on brewer, Scottish & Newcastle (S&N), from BBB to BBB-minus....
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