StockMarketWire.com - Safety products investor Marlowe said it had decided to no longer pursue an acquisition of document management group Restore.

Restore last month rejected a its £743 million cash and share offer by Marlow worth 530p per share, including 71p cash, claiming it was too low.

On Tuesday, Marlowe said it didn't 'believe that a transaction is able to be reached on financial terms that would be in the best interests of Marlowe shareholders'.

Marlowe said it continued to believe a merger would have been strategically compelling.

But it added that it didn't believe it could offer a price that would be required to secure a recommendation from Restore's board that would deliver attractive value creation for Marlowe shareholders.


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