9th May 2019 10:30
LONDON (Alliance News) - Interactive Investor Ltd on Thursday said it is not intending to make an offer for fellow retail stockbroker Share PLC.
Share was trading down 6.9% at 33.00 pence each on Thursday.
Interactive Investor had been in early stages of discussions with Share regarding a potential merger. Last week, when news about the merger broke, Share stock rose significantly, trading around 37p.
"The board understands that Interactive Investor is withdrawing for its own reasons and continues to be engaged with the acquisition of Alliance Trust PLC's subsidiary Alliance Trust Savings, which was announced in October," Share added.
Related Shares:
SHRE.L