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GlobalData extends ICG offer deadline as KKR talks fizzle out
(Sharecast News) - Shares in GlobalData were in the red on Wednesday after the data analytics and consulting company revealed that takeover talks with KKR had fizzled out, as its extended the 'put up or shut up' deadline for ICG. GlobalData announced on 30 April that it had received takeover approaches from both ICG and KKR regarding a possible cash offer, with each party required by 28 May to either announce a firm intention to make an offer or walk away.
Discussions with ICG remain ongoing, GlobalData said, with the board requesting an extension of the PUSU deadline by two weeks to 11 June.
However, the company said that "discussions with KKR have now been terminated as agreement on terms could not be reached".
Shares were down nearly 3% on the news at 183p but still remain up 36% since the initial approaches were announced.
"There can be no certainty that any firm offer for GlobalData will be made, nor as to the terms on which it might be made," GlobalData said.
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