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Revolution shares soar after Stonegate bid unveiled

The share price of Revolution Bars Group rose by 56p to 181p after the Revolution board announced it had received a conditional proposal from Stonegate Pub Company to acquire the entire issued and to be issued share capital of Revolution on a recommended basis at an offer price of 200p per share (in cash).

The bid, if successful, would mean another meaningful step for Stonegate, the UK’s largest privately owned managed pub company in terms of consolidation of the wet-led high-street bar and pub sector.

Revolution stated: “Discussions between Revolution and Stonegate are ongoing regarding the details of the proposal and Stonegate is undertaking its due diligence review. There can be no certainty that any offer for the company will be made, nor as to the terms on which any offer might be made. This announcement is being made by Revolution without the prior agreement or approval of Stonegate.” The move comes little more than six months after Stonegate acquired Walkabout operator Intertain.

 

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