15th Jan 2020 12:30
(Alliance News) - Sun Capital Partners Group VII LLC on Wednesday said it is not intending to make an offer for retail logistics firm Clipper Logistics PLC.
In November, Clipper confirmed it had received a takeover approach from private equity firm Sun European Partners LLP on behalf of Sun Capital. However, Sun Capital confirmed Wednesday it will not make a formal offer.
Shares in Clipper Logistics were down 10% at 262.72 pence in London at midday. Before the offer, Clipper's shares were trading at 242.50p and peaked at more than 300p in December.
By Anna Farley; [email protected]
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