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Urbium rejects Regent's third offer
Urbium, operator of the Tiger Tiger bar chain, has rejected a final £101.1m indicative offer from Regent Inns – the pub group behind the Walkabout and Jongleurs brands, which has now approached Urbium three times.
The latest bid was a revised 975p per share offer – 155p more than its original approach on 8 June and 45p higher than its last offer of 930p a share.
Following a trading statement issued by Urbium on 4 July which reported flat like-for-like sales, Bob Ivell, executive chair of Regent Inns, said: “I believe the final offer should be very attractive to Urbium shareholders in the current circumstances.”
Urbium said it had rejected the offer – which combined 55 per cent shares and 45 per cent cash – because it was not in the best interests of its shareholders. The group also revealed that it had recently been contacted by parties interested in making the group an entirely cash approach. Details: www.urbium.com
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