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Interactive Investor drops bid for Share Plc

Platform Interactive Investor has pulled out of takeover talks with Share Plc, formerly The Share Centre, just a week after news of the discussions was revealed.

Share Plc confirmed last Friday that it has received a preliminary approach from Interactive Investor regarding a possible offer.

However, this morning, Interactive Investor has announced that it is not intending to make an offer for Share PLC.

Interactive Investor confirmed that it “had been in early stage discussions with Share Plc regarding a possible combination” but has decided not to pursue a deal.

Share Plc’s stock price jumped by some 30 per cent around the time the potential deal was announced, but was down 5 per cent in early trading this morning.

The deal would have been Interactive Investor’s third acquisition in around 18 months, having acquired Alliance Trust Savings in October, and TD Direct Investing in 2017.

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