SciSys says that it has rejected Microgen’s indicative proposal.
Microgen tabled the indicative offer at a meeting on 11 April. It services provider SciSys subsequently decided that it “did not represent shareholders’ best interests”.
Microgen retains its 12.89% stake in SciSys. It says that it is still interested in a merger on the terms offered to SciSys.
SciSys shares have slumped 6.5p to 43.5p.
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