LONDON (Reuters) - Carluccio’s CARL.L, the Italian-themed restaurant and retail group, said discussions relating to a bid approach it received from an unnamed suitor earlier this month have been terminated, sending its shares down.
“On May 5, 2009, the board of Carluccio’s announced that it had received a preliminary approach. Discussions in relation to this preliminary approach have now been terminated and the Company is therefore no longer in an offer period,” the company said in a statement on Tuesday.
The company’s shares, which have gained more than 55 percent over the past three months, were down 19 percent at 79 pence by 1:55 p.m..
Reporting by Rhys Jones; editing by Mark Potter