The would-be rescuer of the late-night venue operator Revolution Bars hit out at the company's rejection of its bid today, which the troubled target said this week was "incapable of being delivered". It also said it was disappointed and claimed that the merger of the two companies – which Nightcap proposes as an alternative to what it called a "highly dilutive £12.5 million fundraising" at Revolution – would have meant that Revolution investors would "achieve more value from their investment". Revolution has been in talks with a range of potential suitors to save the chain, famed for nightlife venues popular with students.
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