Quarto has quickly terminated the negotiations with a potential acquirer that were initiated five weeks ago, and announced on August 8 when they reported results for the first half of the year. The issue was not price — the company continues to say that was “attractive and reflective of the inherent value of the business” — but rather timing, which does not entirely make sense. Their statement asserts that “discussions were not progressing to the satisfaction of the board,” citing how “it became clear that the regulatory approvals required by the bidder to complete the proposed acquisition were increasingly less likely to […]
