Alchemy Partners has made a recommended 178p per share cash offer for Inventive Leisure through Caspian Bidco, a newly created bid vehicle. The deal values Inventive at around £42.45m. The offer price represents a premium of about 44.7% over Inventive's closing share price of 123p on 5 September, the last day prior to Inventive's announcement that it had received an approach. It is 4.7% above Inventive's closing price on 16 December. Under the offer, Inventive's executive management team will remain in place, including chief executive Roy Ellis, finance director Sean Curran and Neil Macleod, Sales and Marketing Director. In September Alchemy acquired 178 sites from Spirit Group, creating the Tattershall Castle Group. It is not thought likely that it will combine the two businesses.