Accounting firm Baker Tilly has confirmed it will not make an offer for RSM Tenon Group.
Baker Tilly confirmed last month it was reviewing the potential opportunity of making an offer but today confirmed it would not acquire the accounting and advisory business in as a whole.
In a stock exchange announcement, it said: "Baker Tilly remains of the view that there is significant value in the RSM Tenon group and continues to be interested in an alternative potential transaction involving an acquisition of part or all of the business of the RSM Tenon group provided that such alternative potential transaction does not constitute an offer falling within the jurisdiction of the City Code."
It flagged the City Code section on profit forecasts as a potential area of concern.
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