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LONDON - ICG Europe Fund IX GP S.a.r.l. announced Wednesday it does not intend to make an offer for GlobalData plc, according to a statement released by the company.
The announcement follows a series of disclosures by GlobalData regarding a potential acquisition, with previous statements issued on April 30, May 28, and earlier on June 11.
ICG’s decision falls under Rule 2.8 of the City Code on Takeovers and Mergers, which restricts the company from making another offer for GlobalData within a specified timeframe without special circumstances.
The statement indicates that ICG reserves the right to set aside these restrictions under certain conditions, including if GlobalData’s board agrees, if a third party announces a firm intention to make an offer, if GlobalData announces a Rule 9 waiver proposal or reverse takeover, or if there is a material change in circumstances as determined by the Panel on Takeovers and Mergers.
ICG Europe Fund IX SCSP is represented by ICG Europe Fund IX GP S.a.r.l. in this matter.
The announcement effectively ends the current acquisition discussions between the two companies that had been ongoing since late April.
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