The sought-after Spirit pub group has reached agreement with pub retailer and brewer Greene King on the terms of Greene King's proposed £773m (€989m) takeover of Spirit.
Spirit had received a preliminary approach from Bulmers maker C&C but rejected it.
C&C still have the option of making another approach before November 20. Yesterday, a company spokesman refused to comment on whether they would do so.
The Greene King takeover of Spirit is subject to the approval of shareholders of both companies.