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
