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(Alliance News) - Accesso Technology PLC said Tuesday it was continuing to engage with some potential suitors, despite rejecting some bids proposed to date following previous unsolicited approaches.
Shares in Accesso were 18% lower at 651.00 pence in London on Tuesday.
In July, the queueing and ticketing products maker started a formal sale process after receiving unsolicited takeover approaches. Accesso launched the formal sale process in order to "ascertain whether such interest could translate into an offer for the company" which it considered worthwhile.
Since the formal sale process was launched, the firm has been engaging with several interested potential buyers which subsequently resulted in non-binding indications of interest. The board of Accesso has not deemed any of the offers to date as being of "sufficient value to shareholders", however.
Accesso continues to engage with some of the potential suitors to determine whether an offer for the firm "can be delivered at a value that the board considers is attractive to shareholders".
By Ahren Lester; ahrenlester@alliancenews.com
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