11th Jul 2014 14:39
LONDON (Alliance News) - Trakm8 Holdings PLC Friday said it has terminated takeover talks with Belgravium Technologies after discussions between the companies failed to lead to an agreement.
Earlier this week, Belgravium's shares jumped sharply after it said it had been approached by Trakm8 Holdings, the manufacturer of GPRS-based hardware and software for the vehicle placement and security markets. At the time, both companies said there was no certainty a deal would be done.
In a statement Friday, Trakm8 said that after making a preliminary approach regarding a possible offer for Belgravium Technologies, "discussions did not led to an agreement to proceed with an offer and accordingly talks have now terminated."
Trakm8 shares were trading 1.8% higher Friday afternoon at 76.38 pence, while Belgravium Technologies shares were down 6.7% at 5.25 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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