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Qualceram terminates talks

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    Date: Tuesday 26 Aug 2008

    LONDON (ShareCast) - Shares in Qualceram Shires slumped after the bathroom suites manufacturer said it has ended discussions with potential buyers.

    Qualceram was in negotiations with a number of potential suitors that had shown preliminary expressions of interest but adverse trading conditions restricted some parties to make an offer at all, while others failed to make acceptable offers.

    "The position of potential buyers and current valuation levels have been negatively impacted by the continued deterioration in the UK and Irish construction markets, the general downturn in the economy, credit market conditions and uncertainty surrounding a recovery in the company's key markets," said the group.

    “As a result, the board is terminating the process and Qualceram can confirm that it has ended discussions with potential buyers,” it added.

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