Nightcap PLC (GB:NGHT) has released an update.
Nightcap PLC has announced its decision not to pursue a takeover of Revolution Bars Group Plc, following Revolution Bars’ rejection of Nightcap’s non-binding share for share offer. Despite previous encouragement from shareholders of both companies, Revolution Bars has dismissed Nightcap’s proposal, which sought to merge the two businesses and offer less dilution and more value to Revolution Bars’ shareholders. Nightcap, while respecting this decision, will continue to focus on its consolidation strategy and expects more opportunities for growth in the late-night sector.
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