(Alliance News) - Chemicals investment firm Wilmcote Holdings PLC said Thursday it was still in discussions with Arclin Inc about a potential takeover of the bonding and surfacing firm, with transaction structure details currently being negotiated.
In early June, shares in Wilmcote were suspended after it announced it had begun talks to buy Arclin. The suspension to trading will remain in place until either an acquisition is announced, or the takeover is dropped.
On Thursday, Wilmcote emphasised it was still in "active discussions" with Arclin regarding a potential acquisition. The two firms were now "discussing an updated transaction structure."
Wilmcote emphasised, however, that the talks were "ongoing" and that there was "no certainty" the transaction will proceed.