Oct 10 (Reuters) - Britain’s Revolution Bars Group ended talks to buy nightclub operator Deltic Group on Wednesday, saying a deal would not be in the best interests of its shareholders.
The city-centre pub chain said last month it was in the “very preliminary stages” of considering a possible acquisition of Deltic.
That was after it spurned a merger approach from Deltic last year in favour of a 101.5 million pound ($137 million) takeover by Stonegate Pub Company. However, the Stonegate takeover collapsed when Revolution shareholders voted against the offer.
Deltic disclosed a 3 percent stake in Revolution Bars in November, signalling it might be still interested in a tie-up. (Reporting by Justin George Varghese in Bengaluru; Editing by Mark Potter)