(Alliance News) - IntegraFin Holdings PLC on Monday said it has no intention to make an offer for Edinburgh-based financial wrap platform Nucleus Financial Group PLC.
In December, the FTSE 250-listed investment platform confirmed it was reviewing the possible acquisition of Nucleus, adding that any offer made will likely be in cash. This was as Nucleus announced the receipt of a takeover proposal from private equity firm Epiris LLP.
However, on Monday IntegraFin said discussions have resulted in it declining to make an offer.
Shares in IntegraFin closed 0.7% higher at 560.12 pence each on Monday in London. Nucleus Financial shares closed 1.1% higher at 178.00p each.
By Ife Taiwo; ifetaiwo@alliancenews.com
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IntegraFin Holdings (IHP)