News blog

Coms / Pinnacle Technology Group

• BY: Andrew Hore |
• POSTED: 08/09/2013 |

IT managed services provider Pinnacle Technology Group has turned down the indicative bid from internet telephony services provider Coms. 

The potential offer would have been around 21p a share. Pinnacle believes the bid is opportunistic and said that it would not recommend it. Pinnacle is valued at £6.39m at the current share price of 20p.

Coms says that it will not go ahead with this non-binding indicative bid without a recommendation from the Pinnacle board.

The Coms share price fell 0.17p to 3.63p, valuing the company at £21.8m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFAugust2013_47.pdf