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Which 3 Stocks Would Warren Buffett Buy?FRSGlobal goes cold on Lombard
20-07-2011 12:39
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Lombard Risk Management, the provider of specialised software solutions for City traders, saw its shares tumble as it announced it is no longer in bid talks with FRSGlobal.
Last week, Lombard's shares had climbed 17% after the group confirmed rumours of a possible offer from the risk and regulatory solutions provider, FRSGlobal, a Wolters Kluwer financial services company.
Investors welcomed the possible merger news on 12 July, but the company warned that it was unlikely that an "acceptable offer" will be made.
Lombard said the company is no longer in an offer period.
Shares of the company were trading 13% lower at 7.50p in London.
AR
Last week, Lombard's shares had climbed 17% after the group confirmed rumours of a possible offer from the risk and regulatory solutions provider, FRSGlobal, a Wolters Kluwer financial services company.
Investors welcomed the possible merger news on 12 July, but the company warned that it was unlikely that an "acceptable offer" will be made.
Lombard said the company is no longer in an offer period.
Shares of the company were trading 13% lower at 7.50p in London.
AR
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