Specialist packaging company API Group has issued a trading update relating to its formal sale process, addressing recent share price movement.
The company said that interested parties had been provided with access to management and due diligence information about API, but it acknowledged that to date indicative proposals had been below the closing mid-market price of API shares of 90p.
A statement from the company read: "The board wishes to emphasize that there can be no certainty that any formal offer will be made for the company, or even proposed, or as to the level of any proposal or offer that may be made."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"The board reserves the right to alter any aspect of the formal sale process or to terminate it at any time and in such cases will make an announcement as appropriate. The board also reserves the right to reject any approach or terminate discussions with any interested party or participant at any time."
MF
-
Adidas, Nike or Jordans - could collectable trainers make you rich?The right pair of trainers can fetch six figures. Here's how you can start collecting vintage Adidas, Nike or Jordans now
-
Early bird ISA investors flock to global funds, India and the USThere’s been an increase in investors maxing out their ISA at the start of the new tax year. But where are they putting their cash and why does it make sense to be an early bird investor?
