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Bar and nightclub company Ultimate Leisure has made an indicative bid for Inventive Leisure, which values the Revolution bar operator at an estimated
£50m.
The 170p per share preliminary offer was made following Inventive’s announcement on 6 September that it had received a takeover approach from a private equity house – believed to be Alchemy Partners.
Ultimate has today confirmed that it has received no response to its approach to date.
Inventive – which operates 40 vodka bars – announced yesterday (2 November) that it is set to open three new Revolution sites by next summer.
The first is scheduled to open in Liverpool before Christmas. Details: www.ultimateleisure.com
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