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IT&e takeover talks fall through

04 May 2007  |  1713 views  |  0 Source: IT&e

IT&e Limited (ASX code: 'ITE' AIM: 'ITEL'), a leading provider of financial software and consulting services to the global financial markets, refers to its announcement lodged on 30 April 2007 headed Market Update, in particular concerning merger/takeover activities.

ITE's adviser, Origin Capital, has advised that the party referred to in that announcement has advised it that it has withdrawn from negotiations concerning a merger/takeover of ITE, citing that, in its view, it would not be likely to meet the price expectations of ITE's shareholders.

Origin Capital has also advised that it is continuing discussions with other parties concerning a takeover/acquisition of ITE as indicated in the announcement of 31 January 2007.

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