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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Marston's PLC    MARS   GB00B1JQDM80

MARSTON'S PLC

(MARS)
  Report
Delayed Quote. Delayed London Stock Exchange - 01/15 11:35:15 am
78.45 GBX   -0.38%
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Marston : Deal between Carlsberg and Marston's given the go-ahead

10/09/2020 | 04:16am EST

https://www.gov.uk

Both companies are large brewers of beer and cider, as well as offering related services, such as wholesale supply of their own and other producers' drinks to pubs and restaurants. Marston's also owns a significant number of pubs located across the UK.

The decision by the Competition and Markets Authority (CMA) follows an investigation into several possible ways in which the deal could harm competition in the supply of beer and cider in the UK.

As pubs currently owned or operated by Marston's might choose to sell fewer independent brands after the merger in favour of more Carlsberg products, the CMA considered whether access to pubs by smaller independent brewers could be adversely affected as a result of the deal.

The CMA found, however, that Marston's pubs form only a small part of the potential UK customer base for brewers, and that independent brewers would continue to have sufficient access to pubs after the merger, allowing them to compete effectively.

The CMA also considered whether combining the wholesaling services that both companies provide, through which they distribute their own and other producers' drinks to pubs and restaurants, could raise competition concerns. While the establishment of the joint venture means that the 2 businesses are likely to distribute each other's products more frequently, potentially leaving less room to take on other brands, the CMA found that brewers will continue to have sufficient alternative wholesalers to choose from after the merger.

In relation to their role as brewers, the CMA found that Carlsberg and Marston's have different areas of focus, meaning competition between the 2 businesses is generally limited at present, with Carlsberg largely focusing on the production of lager and Marston's focusing on ale. They also face several competitors in all of the product categories where they are both active.

The CMA's investigation has therefore concluded that the deal does not give rise to competition concerns.

For more information, including a summary of the CMA's decision, please visit the Carlsberg UK Holdings Limited / Marston's PLC merger inquiry page.

.

(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
CARLSBERG A/S 0.20% 922.8 Delayed Quote.-5.37%
MARSTON'S PLC -0.38% 78.45 Delayed Quote.3.77%
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Financials
Sales 2021 566 M 769 M 769 M
Net income 2021 27,5 M 37,4 M 37,4 M
Net Debt 2021 1 354 M 1 839 M 1 839 M
P/E ratio 2021 16,0x
Yield 2021 0,72%
Capitalization 496 M 675 M 674 M
EV / Sales 2021 3,27x
EV / Sales 2022 2,28x
Nbr of Employees 13 095
Free-Float 93,8%
Chart MARSTON'S PLC
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Marston's PLC Technical Analysis Chart | MARS | GB00B1JQDM80 | MarketScreener
Technical analysis trends MARSTON'S PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 69,20 GBX
Last Close Price 78,45 GBX
Spread / Highest target 33,8%
Spread / Average Target -11,8%
Spread / Lowest Target -49,0%
EPS Revisions
Managers and Directors
NameTitle
Ralph Graham Findlay Chief Executive Officer & Executive Director
William John Rucker Chairman
Andrew Andonis Andrea Chief Financial Officer & Executive Director
Carolyn Jane Bradley Senior Independent Director
Bridget Lea Independent Non-Executive Director
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