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Inventive knocks back Ultimate bid interest

From The Publican

04-Nov-2005

Ultimate Leisure has had a bid for Revolution vodka bar operator Inventive Leisure turned down.


Ultimate, headed by Mark Jones (pictured) said it had made a preliminary indicative approach to Inventive's committee overseeing bid offers, but that despite asking for company information to date it had not received any.


In a statement Inventive confirmed it had received an approach from Ultimate but had decided not to proceed with it.


"We can confirm that we have received a preliminary indicative approach from Ultimate Leisure Group plc regarding a potential offer for Inventive Leisure.


"The Independent Directors, together with their advisers, have considered all approaches and, as set out in our AGM statement yesterday, active discussions are ongoing with a private equity house."


Names in the frame regarding the potential bidder include Alchemy Partners.