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Aug 10 (Reuters) - British business software provider
Marlowe Plc on Tuesday dropped its pursuit of Restore
Plc, weeks after the office services provider rejected
its 743-million-pound ($1 billion) takeover bid.
Marlowe said that while it still thought a combination would
have been "strategically compelling", it would not make a new
offer as it was not able to arrive at financial terms for the
deal suitable to its shareholders.
"We were delighted to have received such strong support from
our shareholders through this process," Restore Non-Executive
Chairman Martin Towers said in a separate statement. "(We) are
committed to generating sustainable long-term value for them and
all of our stakeholders."
($1 = 0.7222 pounds)
(Reporting by Shanima A in Bengaluru; Editing by Bernard Orr)
