LONDON (ShareCast) - Blue Oar confirmed that it had made a preliminary approach to WH Ireland on 21 April regarding a possible offer for its fellow stockbroker.
WH Ireland announced earlier today that it has rejected an unsolicited approach, saying the offer was not in the best interests of shareholders.
Blue Oar said it remains interested in pursuing a potential acquisition of WH Ireland and is seeking to hold talks with the firm’s board on an 'amicable basis.'
It’s the second time WH Ireland has announced a takeover approach which has not materialised into a firm offer for the business.
The group said in October last year that it had been approached by a number of companies, but those talks ended in February after it failed to agree terms.