Andor Technology’s independent directors have withdrawn their recommendation of the 73p a share bid by Thorndale.
They decided to withdraw the recommendation after the recent strong trading statement. There is also a potential counter offer from Carraig Capital.
The EGM and court proceedings related to the Thorndale bid will be adjourned.
Despite this announcement the Andor share price dipped 1p to 74p, valuing the digital camera technology developer at £19.9m.
It is up to Carraig to come up with an offer or Thorndale to revise its bid.
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