Tree owner brings axe down on takeover talks
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MR and marketing group Cagney says discussions with unnamed suitor ‘end amicably'
UK-- Marketing services group Cagney, which owns research agency Tree, has announced that takeover talks with an unnamed suitor have ended.
The firm received a preliminary approach regarding a possible takeover in February, but today said that the economic climate had put paid to any chance of a deal going through.
Cagney said discussions had “ended amicably” and that both parties would now be concentrating on “ensuring financial robustness in the face of the continuing recession”.
The firms share price ended the day down 28.57% to 0.5p after the termination of talks was announced.
Author: James Verrinder
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