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Nightclub firm Deltic discloses stake in merger target Revolution Bars
November 30, 2017 / 3:28 PM / 18 days ago

Nightclub firm Deltic discloses stake in merger target Revolution Bars

LONDON (Reuters) - Nightclub operator Deltic Group has disclosed a 3 percent stake in Revolution Bars Group, signalling it is still interested in a tie-up with the company it unsuccessfully tried to merge with earlier this year.

Revolution Bars was at the centre of a bidding battle after Deltic tried to gatecrash a 101.5 million pound takeover of Revolution by Stonegate Pub Company.

Revolution spurned Deltic’s merger approach in favour of the 203 pence-a-share deal with Stonegate. However, the Stonegate takeover collapsed in October when Revolution shareholders voted against the offer.

Reporting by Ben Martin; Editing by Adrian Croft

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