Analysts are doubtful about Wolverhampton and Dudley Breweries' ability to turn around its struggling business after the company rejected two takeover offers and decided to press ahead with its own strategic plan.
Charles Winston, an analyst at Schroder Salomon Smith Barney, said: "The restructuring plan aims to release value through getting rid of low quality assets, and that will make the company more streamlined and focused. But once it is done, it won't leave the company with any better a growth outlook. It would be better for shareholders if the company was taken over."
