Alchemy Partners is expected to mount a recommended offer for Inventive Leisure, worth more than £50m.
However, Ultimate Leisure and Regent Inns are understood not to have ruled out making a counter-bid.
Inventive operates about 40 Revolution vodka bars. Alchemy bought 178 high street bars recently from Spirit Group for £177m.
References: The Times 19/12/05 page 34 (Need to know), page 39
