Marston's Share Price (MARS)

I think the deal was not greatly, if at all, altered by covid and it was a deal thought of as a good one for both parties going forward. I don't know what synergies the CMBC will come up with but you can bet Carlsberg will be pretty good at running things well where they can. Probably good software and staffing input and fleet controls not to mention maximising the retail outlet that both already have with fresh beverage sales by cross selling their existing outlets. Possibility of the continental Carlberg business taking former Marston stable brewer's output to widen sales to the continent . I am not a pub goer myself but hope Marston's do own some quality locations and get down to business after lockdown is lifted, there is probably a lot that can be done by a building refurbishment division of the business. Wetherspoons have it well developed.
Where are you putting your money for a post lockdown profit?

doze incorrect the deal was struck in May, negotiations commenced pre-covid. The issues/pressures already identified no doubt hastened agreement.
What brewing synergies that have not been mentioned, do you anticipate will materialise?

barchild-the deal was struck pre covid as a good way forward. The old set up had directors managing pubs and brewing. I expect the brewing to gain synergies and the freeholds a new management who can concentrate on service to the customer like Wetherspoons does.

fairdealer
You have certainly summed the position up nicely here, one other point to reinforce your thinking, if Mars were not in a horrible position post covid with no pubs open & only selling to the off trade/supermarkets on razor thin margins compared to pub sales, why would RF & the board accept an offer just for the brewery ?
To me it indicates that they knew they were drinking in the last chance saloon, they had no choice or a bad choice, obviously they had to accept the bad choice.

To be clear Marstons will have a share in a NEW brewing Company, CMBC, and will receive £273m for what?
What does that payment from Carlsberg represent? Can those who believe MARS will still have control over brewing please explain? Have yet to see a Junior Partner in a JV dictate to the Major holder......Carlsberg WILL call the shots.
Think of this, for a few more Million Carlsberg could take Marstons over but maybe find the Pub and Motel Estate unattractive.
Even though Whitbread, generally regarded as a pioneer in competitive Pub/Motels are raising, through a Rights issue, £1billion. This follows the windfall of £2bilion from Pepsi, 2 years ago,. WTB's balance sheet has no where near proportionate debt level of Marstons.