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Romac drops Supporta bid plan

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    Date: Tuesday 22 Jul 2008

    LONDON (ShareCast) - Romac Investments has dropped plans to bid for Supporta, sending shares in the outsource group sharply lower.

    In a statement Romac said, "Having assessed all of the available options, Romac has concluded that it is not at this time in the interests of its stakeholders to continue discussions with Supporta in relation to a revised proposal, and so does not currently intend to make an offer."

    Romac, which owns 28.2% of Supporta through a subsidiary, indicated it was interested in making a bid in April, but the board of Supporta rejected the terms of its offer in June.

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