StockMarketWire.com - Plastics group Carclo said it had rejected takeover bid from Consort Medical made in May, on the basis that it undervalued the company.

Carclo said its board was unanimous in rejecting the 'opportunistic' approach of 116p per share on 1 June.

'The board is confident in Carclo's standalone strategy and growth prospects and believes the company's long-term value should not be affected by the challenges which management are addressing,' Carclo said.


At 2:14pm: [LON:CAR] Carclo PLC share price was +22.95p at 103.75p



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