24th Feb 2021 18:01
(Alliance News) - Creightons PLC said late Wednesday said it does not intend to make an offer for beauty, personal care and life science products firm Innovaderma PLC.
Earlier this month, Innovaderma said it rejected the Creightons all-share takeover offer on the basis it "significantly undervalued" the company and its standalone prospects.
Creightons had until March 2 to either announce a firm intention to make an offer for Innovaderma or walk away.
Creightons shares closed up 1.4% 63.88 pence on Wednesday, while Innovaderma ended down 3.9% at 43.25p.
By Arvind Bhunjun; [email protected]
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