LONDON (Alliance News) - Fastnet Equity PLC shares were suspended on Monday after the company said it was holding advanced talks on a reverse takeover.
Fastnet said it is in advanced discussions with India-based Amryt Pharmaceuticals DAC for a deal which would constitute a reverse takeover and see Fastnet focused on late-stage, specialty biopharmaceuticals.
As the deal would be a reverse takeover, Fastnet has requested its shares be suspended from trading pending publication of an admission document detailing the proposed deal.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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