Regal Partners says it is walking away from a potential acquisition of Pacific Current because it is disappointed with the level of engagement from the company.
In a bombshell announcement to the ASX on Thursday, Regal said it had no confidence in the acquisition process as it formally withdrew its non-binding indicative offer made in July that valued Pacific Current at $600 million.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
