ArgentVive considers options as offer talks stall
Monday, June 09, 2008
Shares in ArgentVive fell sharply in early trading this morning after the e-commerce group said talks with its deputy chairman Charles Denton, over a possible offer for the business, had been called off.
In a statement, the company also said that in light of challenging trading conditions it was considering various options and alternatives for the group.
Talks over a possible takeover began back in February this year when ArgentVive said Denton was exploring the possibility of making an offer for the company.
Today it said Denton had pulled out of the talks and “that it is no longer his intention to proceed to make an offer”. He remains the company's largest shareholder with a 41.4% holding.
Tough trading conditions cast further gloom over the group. It said that Solcara, acquired which was acquired last December , and Waterside Books, were both trading in line with management expectations. However, its other activities are currently trading below budget.
The shares were down 17pc to 40.5 pence.
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