Genus board delight
ALCHEMY Partners and the consortium looking to take over Genus has withdrawn from the battle, attacking Genuss refusal to provide the financial information needed to substantiate an offer.
"We are disappointed and dismayed that the 29,000 Genus share-holders have been denied the chance by their board to receive a bid on which they could make up their own minds," said the consortium.
Genus management have expressed their pleasure at Alchemys withdrawal. "The board is delighted that the consortiums misjudged approach has failed," said chief executive Richard Wood. "It vindicates our policy of not allowing access to our books to any unwelcome opportunist who comes along." *