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20 Aug 2009
Morse has revealed that all potential takeover talks have been terminated.
The integrator was forced to reveal last month after a sudden change in its share price, that it had received preliminary approaches from third parties with a view to acquiring the company at a price of 25 pence per share.
At the time the board indicated that the approach "significantly undervalued " the group.
Further reading
According to a statement on its web site which was also sent to the Stock Exchange: “Each interested third party has acknowledged the termination of discussions, and is no longer considering an offer for the Company.
“Accordingly the Company has ceased to be in an ‘offer period’ for the purposes of the City Code on Takeovers and Mergers.”
Morse is due to release its preliminary results for the year ended 30 June 2009 on 9 September.
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