Groupe Chez Gerard plunged into the red after the collapse of its expansion plans, and Abraham, 65, returned to run the group.
Paramount, which has a 3% holding in Chez Gerard, indicated it would be willing to offer five of its shares for each Chez Gerard share. There would also be an underwritten cash alternative of 100p a share.
The company, a cash shell since the sale of its chain of 158 tenanted pubs two years ago, has already received letters of support for its proposed offer from holders of a further 47.8% of the shares. Its supporters include JO Hambro, the fund management group that bought a 25% stake in Chez Gerard last year.
However, its support does not include the holdings of Abraham and the rest of the board, who have about 18% of the shares between them.
A firm offer from Paramount would be subject to due diligence. Chez Gérard said yesterday there could be no certainty that an offer would emerge.