Shell company Critical Information Group says that it does not intend to proceed with an offer for business publisher Centaur Media.
CIG could come back within six months if it could gain agreement for a bid from the Centaur board of if another company makes a bid. Centaur was unimpressed with the bid approach so it is unlikely to recommend any offer from CIG.
CIG will look for other media companies to acquire. At 108.5p a share, CIG is valued at £3.26m.
Shares in Centaur Media fell 0.25p to 50.5p each.
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