(Bloomberg) -- The day after the U.K.'s 2016 Brexit vote, Greene King Plc shares slumped below 850 pence. They've struggled to reach that level until now.
The stock surged 51% on Monday to the highest point since the Brexit referendum in June 2016, after Hong Kong's CK Asset Holdings Ltd. agreed to buy the British brewer for 850 pence a share in cash. That values the U.K. company at about 2.7 billion pounds ($3.3 billion).
CK Asset's bid for Greene King follows private equity firm TDR Capital's agreement to buy U.K. pub-chain operator EI Group Plc for about $1.6 billion in July.
To contact the reporter on this story: Lisa Pham in London at lpham14@bloomberg.net
To contact the editors responsible for this story: Beth Mellor at bmellor@bloomberg.net, Jon Menon, John Lauerman
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