TEAM withdraws takeover bid after Tavistock rallies opposition

Share capital of 51% poised to fight

James Baxter-Derrington
clock • 1 min read
TEAM has dropped its takeover bid for the AIM-listed Tavistock
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TEAM has dropped its takeover bid for the AIM-listed Tavistock

TEAM has withdrawn its takeover bid for fellow AIM-listed firm Tavistock Investments after a shareholder and board alliance representing more than 50% of voting rights rallied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. "As a co...

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