Revolution Bars was at the centre of a bidding battle after Deltic tried to gatecrash a 101.5 million pound takeover of Revolution by Stonegate Pub Company.

Revolution spurned Deltic's merger approach in favour of the 203 pence-a-share deal with Stonegate. However, the Stonegate takeover collapsed in October when Revolution shareholders voted against the offer.

(Reporting by Ben Martin; Editing by Adrian Croft)

By Ben Martin