TAPAS chain La Tasca has "unreservedly" recommended a revised offer from from Cafe Rouge and Bella Italia chain owner Tragus Group.
Iranian entrepreneur Robert Tchenguiz and Icelandic bank Kaupthing tabled a £98.6 million offer for the business on Thursday morning, just a day after the La Tasca board recommended a £96 million offer from Tragus.
But Tragus yesterday came back with an offer of 192p per share, which values the company at close to £100 million.
A statement from Tragus said: "The La Tasca Directors consider that the revised offer is in the best interests of La Tasca shareholders as a whole. Shares in La Tasca stayed static at 195p on Friday.
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