£101.5m takeover of Revolution Bars falls through
The £101.5m takeover of Revolution Bars Group by Stonegate Pub Company has collapsed following pressure from a rival bid.
“Requisite resolutions” needed for the deal to go ahead were not met at a general meeting.
This is despite Ashton-under-Lyne, Greater Manchester-headquartered Revolution’s board recommending agreement by shareholders in the face of a rival hostile merger bid from the UK’s largest nightclub chain Deltic Group.
For the Stonegate offer to be accepted 75% of Revolution shareholders would have needed t... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
