23rd Oct 2015 16:06
LONDON (Alliance News) - JinJing (Group) Co Ltd Friday said it has terminated talks with EKF Diagnostics Holdings PLC and said it does not intend to make a takeover offer for the company.
The pair had been in talks since late August about trying to strike a potential deal, with EKF awarding JinJing numerous extensions to make a formal offer.
On Friday, JinJing said: "Jinjing today announces that discussions with EKF have now been terminated, and that Jinjing does not intend to make an offer to acquire the entire issued and to be issued ordinary share capital of EKF."
Back in September, China's JinJing said if it made an offer it would have been made solely in cash.
EKF shares closed down 0.2% to 20.96 pence per share on Friday.
By Joshua Warner; [email protected]; @JoshAlliance
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