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25 Nov 2009
Redstone has announced that potential takeover talks for the business have ended. The VAR revealed back in September that it was in talks with a mystery suitor after its share price shot up 52 per cent.
According to a statement made to the London Stock Exchange at the time, Redstone had “received an early-stage approach that may have resulted in an offer for all or parts of the group”.
It sold its telecoms arm to Daisy Group for £17m earlier this year.
Further reading
But today’s announcement revealed that “all discussions have now been terminated”.
This means the firm has “ceased to be in an offer period for the purposes of the City Code on Takeovers and Mergers,” the statement concluded.
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