By Ian Walker
PureTech Health shares fell in early trading as private equity investor Nordic Capital withdrew its plan to buy the company after its approach was rejected.
Shares were down 15.20 pence, or 11%, at 123.0 pence in early morning European trading. They are currently down 18% over the year to date.
The biotherapeutics company said late Monday that it had been in talks with Nordic Capital about a possible cash offer for the company. It didn't give any indication of terms or pricing being discussed.
PureTech had a market capitalization of 331.9 million pounds ($422.3 million) based on its closing share price of 138.20 pence on Monday.
Separately, Nordic Capital confirmed that it had made a private proposal to PureTech Health that was rejected. It added that it no longer planned to table any firm offer for the company.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
April 08, 2025 03:23 ET (07:23 GMT)
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