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Purplebricks in talks with rival Strike over potential sale

By Michele Maatouk

Date: Wednesday 15 Mar 2023

Purplebricks in talks with rival Strike over potential sale

(Sharecast News) - Purplebricks said on Wednesday that it has been in talks with rival Strike about possible participation in the formal sale process announced earlier this month.
Responding to recent press speculation, the online estate agent: "At the current time Strike is not participating in the formal sale process.

"As noted in the announcement of the formal sale process, all participants are being required to enter into a non-disclosure agreement (NDA) on terms satisfactory to Purplebricks."

It said the NDA reflects terms typical for a formal sale process and enables it to run in a "fair and coordinated manner for the benefit of Purplebricks' stakeholders".

The company added that there can be no certainty as to whether Strike will make an offer, nor the terms of any such offer.

Purplebricks announced on 1 March that it was launching a formal sale process after receiving several approaches for the business.

"The formal sale process will enable the board and its advisers to conduct an orderly process and engage more widely with potentially interested parties, with a view to maximising the outcome for Purplebricks' shareholders," it said at the time.

"It remains possible that, following completion of the formal sale process, the board will consider that Purplebricks and its shareholders would be best served by alternative strategic options available to the company, including by Purplebricks remaining a listed company."

At 0950 GMT, the shares were up 9% at 7.52p.


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