Shares of UK electrical and telecommunications retailer Currys (CURY) (CURYY) fell more than 6% Friday after Chinese e-commerce company JD.com (NASDAQ:JD) said it would not make a bid for the company.
In recent weeks, speculation regarding a potential takeover of the London-listed retailer has been rife, with both JD.com and US investment firm Elliott Advisors confirming their interest.
However, after Elliott confirmed earlier this week that it would not make a bid for the company, JD.com has opted to do the same.
On Monday, Elliott said that "following multiple attempts to engage with Currys' Board, all of which were rejected, it is not in an informed position to make an improved offer for Currys on the basis of the public information available to it." It, therefore, confirmed it does not intend to make an offer for Currys.
Meanwhile, today, JD.com said in a brief statement that it was in the very preliminary stages of evaluating a possible deal. However, "JD.com today confirms that, following careful consideration, it does not intend to make an offer for Currys."