PRINT THIS PAGE Newbridge trumps Woolworths bid for Australian liquor store chain29/09/2004. Source: AltAssets. 
 Newbridge Capital, the Asian arm of US buy-out firm Texas Pacific, has made an offer of A$1.1bn for pub and liquor store chain Australian Leisure and Hospitality (ALH). The offer trumps a A$970m hostile bid by Woolworths.
Woolworths has acquired around 15 per cent of ALH in market raids over the past few months. But the company declined to say whether it would be prepared to increase its bid of A$2.75 per share to top Newbridge's A$3.05 a share offer, according to a report by the Financial Times.
Both bids are above the A$2.50 price at which ALH, Australia's third-largest liquor retailer and its biggest pub operator, was spun off from the drinks group Foster's last year. But the bids are still below the valuation of A$3.125 and A$3.344 contained in a recent study by KPMG for ALH.
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