Retail Decisions courts suitors
05 July 2006 | 4779 views | 0
A month after calling off takeover talks with an unidentified suitor, UK card operator and payments processor Retail Decisions (ReD) says it has received "an increased indicative proposal" as well as a number of unsolicited approaches from other companies.
ReD initally said in May that it had received an early stage bid approach which may lead to an offer for the company. But the vendor terminated the talks in June after saying the offer didn't reflect the true value of its business.
But in its latest statement, ReD says it has received an increased indicative proposal - which may or may not lead to an offer being made - and has also received a number of other unsolicited approaches from third parties.
"In view of these events, the Board of Retail Decisions has concluded that it should engage in discussions with bona fide potential offerors in order to assess if an acceptable offer will be forthcoming," says the statement.