BAR and nightclub company Ultimate Leisure has made an indicative bid for Inventive Leisure, which values the Revolution vodka bar operator at an estimated £50m.
The 170p per share preliminary offer was made following Inventive's announcement in September that it had received a takeover approach from a private equity house - believed to be Alchemy Partners.
Newcastle-based Ultimate yesterday confirmed that it has received no response to its approach to date.
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