"Punch Taverns was one of the strongest FTSE 250 performers, up 35½p at 554p after it announced that it had been approached by a number of parties about a joint bid for Mitchells & Butlers, up 13p to 342½p, which it would assess, but that it would drop its own bid plan."
http://business.timesonline.co.uk/tol/business/markets/article3642838.ece