A PYMNTS Company

UK: Worthington clarifies potential merger

By  |  April 15, 2015

Worthington Group Wednesday said it is not in direct talks with an overseas listed company as it reported at the end of March, and said the overseas company needs refinancing before any potential merger is completed.

On March 31, Worthington said it was in direct talks about merging with an overseas listed company to avoid having to declare itself as an investment fund after UK regulators had ruled the company’s recent but un-named acquisitions constituted a reverse takeover.

However, on Wednesday, Worthington said it “is not in direct discussions with an overseas listed company, as previously stated,” and in addition, Worthington said the overseas company requires refinancing before any potential deal progresses.

Worthington said it will be able to provide further information before the end of April.

 

Full Content: Stock Market Wire

 

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.