13th Mar 2019 13:48
LONDON (Alliance News) - Energy investment firm Path Investments PLC said Wednesday it had withdrawn from its acquisition of Australian miner ARC Marlborough Ltd following due diligence.
In mid January, Path announced it would buy ARC - which owns a mining tenement in Queensland - for an undisclosed sum. As part of its due diligence on the deal, however, the firm "informed ARC of its withdrawal" from the deal.
Path did not provide any further information on what had encouraged Path to step away from the offer.
Shares in Path were suspended at 0.75 pence on Wednesday.
Related Shares:
PATH.L