FRSGlobal backs out of Lombard take-over talks

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

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FRSGlobal backs out of Lombard take-over talks

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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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