Inter Link Foods shares fell sharply yesterday (11 October) following the announcement that the UK cake maker’s talks with a private equity house for a possible takeover have now terminated and no offer is anticipated.
Among the possible candidates linked to a buy-out were 3i, Hg Capital and LDC.
Inter Link Foods executive chairman Alwin Thompson said: “Now that these talks have terminated, we can concentrate all of our resources on the group’s increasingly important Christmas period and on delivering our ninth consecutive successful year since joining AIM in 1998.”
On 25 September, the UK manufacturer confirmed it was in talks about a possible offer, likely to be in excess of GBP47m (US$89.42m).
A week later the company’s chief executive Paul Griffiths announced his resignation.
Inter Link said he was leaving to pursue private and charitable interests.