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LONDON - Legacy UK Holdings Limited announced today it has withdrawn its proposed takeover offer for Empresaria Group plc, citing lack of support from the recently changed board of directors and shareholders.
The company had previously made a conditional and non-binding indicative offer of 62 pence per ordinary share in cash for Empresaria, as referenced in Empresaria’s announcements between July and September 2025.
Following changes to Empresaria’s board of directors on October 15, Legacy determined it no longer had sufficient backing to proceed with the acquisition attempt.
In accordance with Rule 2.8 of the City Code on Takeovers and Mergers, Legacy and any parties acting in concert with it will be restricted from making another offer for Empresaria for six months, with certain exceptions.
These exceptions include scenarios where the Empresaria board agrees to an offer, if a third party announces a firm intention to make an offer, if Empresaria 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.
The withdrawal announcement, which contains inside information under UK Market Abuse Regulations, was made in a press release statement issued by Legacy UK Holdings.
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