Neurological testing business Cogstate denied details of a potential takeover bid leaked to market participants, despite the shares soaring during confidential due diligence, before collapsing after it was determined an offer would not proceed.
Talks were scrapped on February 18.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
