Article: u260 MILLION BID BATTLE HOTS UP AT PIZZA EXPRESS.

Byline: NICK GOODWAY

A u260 million bid battle erupted today for Pizza Express after entrepreneur Luke Johnson revealed an agreed takeover - only to be challenged by a last-minute rival bid.

Just minutes after Johnson unveiled a cash deal worth 370p a share, a consortium led by two venture capitalists announced it was considering a higher offer for the struggling 311-strong restaurants chain.

The pair, UK-based TDR Capital and Capricorn, owner of the Nando's flame-grilled chicken chain, hope to outbid Johnson, who famously floated Pizza Express in 1993.

Johnson, in partnership with Ian Eldridge who quit as Pizza Express's chief ...

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