- Investment group Wilmcote said it remained interested in a transaction involving US-based specialty chemicals business Arclin but not via a direct acquisition.

The company said it was instead interested in a possible acquisition of Arclin by an unaffiliated US-listed investment vehicle.

'It is anticipated a successful transaction will result in the Wilmcote management group being engaged by the unaffiliated US-listed investment vehicle and is expected to include provision for Wilmcote to receive compensation to reflect its investment in the acquisition opportunity,' Wilmcote said.

'Given the continued uncertainty over the transaction structure and financial impact to Wilmcote and its shareholders, Wilmcote's ordinary shares remain suspended pending a further announcement in relation to this transaction.'

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