LONDON (ShareCast) - (Sharecast News) - The share price of payment platform developer Equals Group dived on Wednesday after potential buyer Madison Dearborn Partners (MDP) bowed out of drawn-out takeover talks that have been ongoing since November.
After extending the so-called 'put up or shut up' (PUSU) deadline a number of times, most recently to 12 June, private equity firm MDP confirmed on Wednesday that it does not intend to make an offer for the company.

However, talks are ongoing between the two parties to evaluate "various potential strategic alternatives", including commercial arrangements focused on Equals' B2C business and technology platform.

Meanwhile, the indicative non-binding proposal received by Equals in March from a consortium comprising Embedded Finance Limited and TowerBrook Capital Partners is still on the table, with the PUSU deadline being extended once again to 10 July.

"As part of the strategic review, discussions and due diligence are advancing between Equals and the consortium regarding a possible offer for the company and, to allow further time for these discussions and due diligence to take place, the Board of Equals has requested that the Panel on Takeovers and Mergers extends the PUSU deadline further," Equals said in a statement.

The stock was down 9% at 110.33p by 1045 BST.

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