Wolverhampton and Dudley Breweries (W&DB) has rejected Pubmaster's £453m hostile bid for the business as 'an attempt to buy W&DB on the cheap'. Chair David Thompson urges shareholders to reject the offer and reiterated the board's pledge to return £200m to shareholders over the next two years. The Transport and General Workers' Union has backed the board, saying a takeover by Pubmaster could risk up to 1,000 jobs. W&DB's shares rose 4p to 480p.
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