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James Hay parent rejects takeover approach

by Daniel Grote on Dec 24, 2013 at 08:18

James Hay parent rejects takeover approach

James Hay parent IFG Group has rejected a takeover approach.

IFG had notified the market of the approach on Friday, saying that talks with the unnamed potential acquirer were at preliminary stages.

It said in a statement to the market this morning: ‘The board of IFG, having given due consideration to the approach to the company, announced on 20 December, advises that due to the highly conditional nature of this proposal, the board will not be proceeding further with it.’

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