Just a week after publicly admitting they were in merger talks, RIT Capital Partners (RCP) has decided not to make a takeover offer for Alliance Trust (ATST).
RIT Capital did not give a specific reason but stated: "Following careful analysis and constructive discussions with representatives of Alliance Trust, RIT has concluded that it would not be in the best interests of its shareholders to make an offer for Alliance Trust and accordingly announces that it does not intend to make an offer to acquire Alliance Trust."
RIT Capital did not say why it had made the offer in the first place.