Gravity4 confirms withdraws bid for Tradedoubler
21/05/2015 08:29
STOCKHOLM, May 21 (Reuters) - U.S. online marketing firm
Gravity4 has withdrawn a bid for Swedish peer Tradedoubler
TRAD.ST , Gravity4's chairman Gurbaksh Chahal told Reuters on
Thursday.
"We have withdrawn our formal bid completely," said Chahal,
who is also the founder and chief executive of Gravity4.
He said Gravity4 had decided to withdraw the bid after
receiving a letter from Tradedoubler's deputy chairman.
Gravity4 said on Wednesday it had raised an offer for
Tradedoubler to 565 million crowns ($67.7 million) but
Tradedoubler declined to confirm any formal takeover bid had
been made.
($1 = 8.3506 Swedish crowns)
(Reporting by Olof Swahnberg, editing by Anna Ringstrom)
((Olof.Swahnberg@thomsonreuters.com; 08-700 1019; Reuters
Messaging: olof.swahnberg.reuters.com@reuters.net))
Keywords: TRADEDOUBLER/GRAVITY4