Dec 14 (Reuters) - Punch Taverns Plc, Britain'ssecond largest pub operator by number of pubs, said on Wednesdaythat it received two takeover approaches, including one fromHeineken.
Punch Tavern said it received a proposal from Patron CapitalAdvisers on behalf of Heineken for 174 pence per share. It alsoreceived an approach from Emerald Investment Partners Limitedabout a 185 pence per share offer for the company.
According to Reuters calculation, Heineken's offer valuesPunch's share equity at 386 million pounds ($488.83 million),and Emerald's offer values it at 410 million pounds.
Shares in Punch were up 36 percent at 175 pence at 1212 GMTon the London Stock Exchange. ($1 = 0.7896 pounds) (Reporting by Rahul B in Bengaluru; Editing by Adrian Croft)
