Jersey-based
REG
says
it
received
the
offer
in
early
January,
but
discussions
have
since
fizzled
out,
with
the
unnamed
UK-listed
suitor
having
confirmed
it
will
not
make
another
offer.
“Having
consulted
with
certain
large
shareholders,
the
board
rejected
the
proposal
on
the
basis
that
it
very
significantly
undervalued
the
company,”
REG
says.
REG
had
a
market
capitalisation
of
£45.4m
based
on
its
27
January
closing
price,
having
taken
in
revenues
of
£6.2m
in
the
fiscal
year
ended
30
June
2010.
The
rejected
takeover
offer
valued
the
firm
at
£69.9m.
The
firm
“remains
confident
that…
