News blog
Supporta
- BY: Andrew Hore |
- POSTED: 22/07/2008 |
- COMMENTS: Add yours
Romac Investors has decided not to bid for Supporta.
Its first proposal was rejected by the home care and professional services provider and it has decided not to revise that offer. Supporta says that it hasn’t held formal talks since the original offer was rejected.
Supporta felt the original offer undervalued the business and it was unsure how it was going to be financed.
Romac can’t make another bid for six months unless it is agreed or a rival makes an offer.
Supporta’s trading is in line with expectations. This didn’t stop the shares falling 4p to 25p, valuing Supporta at £21.6m.
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