Minorplanet rejects 40p offer
Published Date:
04 July 2008
Vehicle tracking firm Minorplanet Systems today said it had "terminated" discussions over a potential takeover bid.
The Leeds-based business was initially approached in May by an undisclosed third party but a week later it dismissed the potential takeover offer, which stood at 40p a share, had undervalued its market position.
Today officially marks the end of the discussions and Minorplanet added it was "not in discussions with any other party regarding a potential offer for the company".
In May, the company reported pre-tax profits rose to £300,000 for the six months to February 29 and said it had grown strongly in the UK but this had been offset by temporary weakening in its Irish and Australian operations.
The full article contains 124 words and appears in n/a newspaper.
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Last Updated:
04 July 2008 10:38 AM
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Source:
n/a
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Location:
Yorkshire
