Slovenia’s largest retailer Mercator has reportedly withdrawn its takeover bid for Serbian retail chain C Market.
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Mercator said it decided to withdraw the offer because some of C Market’s small shareholders had traded in shares outside the official market, reported Reuters, adding that a Slovenian newspaper had reported that the small shareholders had agreed to sell their stake to Serbian retailer Delta M.
“We also did not receive concrete information on C Market’s business performance, so that we could improve our offer,” Reuters also quoted Mercator as saying.
