(Alliance News) - Cranswick PLC on Thursday confirmed its withdrawal from the acquisition process for Inspired Pet Nutrition Ltd.
On Wednesday, the FTSE 250-listed meat producer said it was engaged in talks to potentially buy the UK pet food business.
At the time, Cranswick said: " In line with the company's stated long-term growth strategy to expand its product offering through further diversification, Cranswick regularly considers acquisition opportunities. If successful, the group's current intention is to part-finance the acquisition via an equity placing of less than 10% of issued share capital to investors."
No reason was given for the cancellation of the purchase.
Shares in Cranswick were trading 0.1% lower at 3,540.00 pence each on Thursday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Cranswick (CWK)