Property tycoon Robert Tchenguiz could be forced to call time on his takeover of Mitchells & Butlers, according to The Sunday Times.
Chief executive Tim Clarke has asked the takeover Panel to impose an April 24 deadline for him to make a formal approach.
Last year Tchenguiz lost out to Punch taverns in the auction for Spirit. He is also said to have dropped out of the running for Next Generation, the health clubs chain.
Although The Sunday Times values the bid at £4bn, The Sunday Telegraph describes it as £2.6bn.
It says Iranian-born Tchenguiz is expected to put in a bid of between 500p and 550p, considerably below the 600p M&B wants.
The Sunday Times 02/04/06 (Business) page 3.1
The Sunday Telegraph 02/04/06 (Business) page 1
