UK's Crimson Tide slumps after Ideagen walks away from takeover

Crimson Tide

11/07/2024 14:04

** Shares of Crimson Tide Plc  TRST.L  slump ~35% to 175p
    ** TRST says regulatory and compliance software co Ideagen
has dropped out of its pursuit for London-listed firm
    ** Last month, Crimson Tide said it was considering a 20.5
mln pound ($26.5 mln) conditional takeover proposal from Ideagen
after it had rejected a revised offer from rival Checkit  CKT.L 
    ** Including session's loss, stock up ~23% YTD


($1 = 0.7736 pounds)

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))