Urbium is this morning expected to announce a proposed takeover of the business by Electra Partners valuing its share capital at £114m, and giving the business a value – including debts – of about £160m. The deal, which values each share at £10.75, will see the management team of Steve Richards, chief executive, and Steve Palmer, finance director, acquire a significant stake in the business, although the exact level is as yet unknown. If the proposal receives the support of shareholders, which include Goldman Sachs, Fidelity, UBS and Deutsche Bank, Urbium’s non executives – including chairman John Conlan – will resign. Analysts believe it is unlikely that a rival bid will emerge at a higher level. Electra is expected to use Urbium, which operates a clutch of bars in London's West End and the City as well as the Tiger Tiger brand, as a platform to acquire high-volume bars that become available as the high street consolidation continues. The private equity company is thought to have seen off competition from Alchemy Partners and R20, Robert Tchenguiz’s private equity arm. Urbium was put in play after receiving several approaches from quoted rival Regent Inns.