FRSGlobal backs out of Lombard take-over talks

FRSGlobal backs out of Lombard take-over talks

FRSGlobal has pulled out of talks to take over UK software house Lombard Risk Management.

Lombard Risk confirmed last week that it was in discussions with Wolters Kluwer subsidiary FRSGlobal about a possible cash offer, sending its share soaring by 17% to a year high of 9.13 pence.

In a brief Stock Exchange statement issued yesterday, Lombard Risk says: "FRSGlobal has confirmed that it does not intend to make an offer. As a result the Company is no longer in an offer period."

Lombard's shares slipped back on the news, to close the day at 7.5 pence.

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