Marston's pub chain receives takeover proposal from US private equity group

Owner of 1,400 pubs and bars, including Pitcher & Piano chain, will evaluate all-cash offer from Platinum Equity

Pub chain Marston's has received a takeover approach from a US private equity group in a move that could fuel a spate of deals in the embattled hospitality sector.

The news of the all-cash offer from Platinum Equity Advisors prompted a 17% spike in Marston's share price to 87p, giving the pub and brewing group a market value of 553m.