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20 June, 2006 - 17:50 By Staff Reporter

Greene King pays £270m for rival

Suffolk brewer Greene King is buying smaller competitor Hardys & Hansons for £270m, facilitating a push into the East Midlands.Suffolk brewer Greene King is buying smaller competitor Hardys & Hansons for £270m, facilitating a push into the East Midlands.

Bury St Edmunds based Greene King has been brewing for 200 years but lacked froth outside its south east heartland.

The deal delivers 268 pubs in the Midlands and part of the north of England to the Greene King stable. Hardys is a 174-year-old brewer and owns 268 pubs.

Greene King’s share price rose 2.5 per cent to 749p on the deal, valuing the group at around £1.2 billion.

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