UK's Purplebricks says shareholder Lecram withdraws bid (updated)

Purplebricks

31/05/2023 09:45

(Adds background on bids in paragraph 3 and 4, comment on
Strike deal from statement)
       May 31 (Reuters) - Britain's Purplebricks Group Plc
 PURP.L  said on Wednesday Lecram Holdings, one of its top
shareholders, had withdrawn its takeover proposal for the online
estate agent. 
    The company said in a statement that Lecram had withdrawn
its proposal and at the current time does not intend to make an
offer for Purplebricks.
    Lecram had proposed 0.5 pence per Purplebricks share in cash
last week, valuing the company at about 1.5 million pounds 
($1.89 million). 
    Earlier this month, Purplebricks, which was once valued at
more than $1 billion, agreed to be bought by Strike for just one
pound.
    The company, which was launched in 2014, recommended that
shareholders vote in favour of the Strike deal at its upcoming
general meeting on June 2.  


($1 = 0.7923 pounds)

 (Reporting by Radhika Anilkumar in Bengaluru; Editing by
Shailesh Kuber and Rashmi Aich)
 ((Radhika.Anilkumar@thomsonreuters.com;))