ALH shares have been rising since late last week when the Bruandwo joint venture between retailer Woolworths and hotel king Bruce Mathieson, revealed it had a 16 per cent stake in ALH, sparking suggestions a $1.1 billion bid was on the cards. The speculation has persisted despite many observers, including Merrill Lynch analyst David Errington, suggesting Woolies chief Roger Corbett would prefer to avoid a hostile bid.