UK's Revolution Bars surges on confirming potential takeover talks with Nightcap

Revel Collective

02/05/2024 09:08

** Shares of Revolution Bars Group  RBG.L  jump as much as
24% to 1.80p
    ** Bar chain confirms it has held "exploratory meeting" with
Piano Works owner and bar operator Nightcap about a range of
possible transactions, including a potential takeover
    ** Adds that Nightcap is not participating in formal sales
process, as announced on April 10
    ** Under takeover rules, Nightcap has until May 30 to either
announce a firm intention to make an offer or walk away
    ** Stock up about 14% as of 0749 GMT, trimming YTD losses to
~71%

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))