Revolution Bars confirms takeover talks with Nightcap

(Sharecast News) - Revolution Bars confirmed on Thursday that it has held "an exploratory meeting" with Piano Works owner Nightcap about a range of possible transactions, including a potential takeover. The company noted that Nightcap is not participating in the formal sales process, as announced on 10 April.

​It also insisted there can be no certainty that any firm offer will be made nor as to the terms on which any firm offer might be made.

Under takeover rules, Nightcap has until 30 May to either announce a firm intention to make an offer or walk away.

"A further announcement will be made as and when appropriate," Revolution said.

The statement came after Sky News reported that Nightcap and Rekom had expressed an interest in buying part or all of Revolution.

Sky also said that a number of private equity firms were understood to have been planning to submit offers ahead of a deadline set by advisers to Revolution.