TEAM has withdrawn its takeover bid for fellow AIM-listed firm Tavistock Investments after a shareholder and board alliance representing more than 50% of voting rights rallied around the firm.
In an announcement dated 20 April 2021, the board of TEAM stated it had "not been able to fully engage with the board of Tavistock" and was no longer proceeding with its possible offer. Minority of Tavistock shareholders entertain TEAM takeover bid "As a consequence, the board of TEAM believes that other growth and acquisition opportunities are more compelling at this time and in the best interest of its shareholders to pursue," it said. The decision comes a day after the Tavistock board rallied 35% of its shareholders, in addition to its 16% stake, to submit letters of intent stat...
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