- Terms of the latest prospective offer largely unchanged
- Restore bosses see no compelling strategic benefits
Support services group Restore (RST) has rejected a £743m takeover offer from business service and software supplier Marlowe (MRL), arguing that the proposal is not strategically compelling.
Marlowe made its intentions public on Thursday morning, revealing a possible cash/scrip offer to buy Restore for 530p a share - comprising 71p in cash with the remainder in Marlowe shares. Restore shareholders would own around 49 per cent of the combined group.