Purplebricks has confirmed that it has been in discussions with online agency rival Strike regarding a potential takeover offer.
As reported by Estate Agent Today this morning, Strike has expressed interest in acquiring Purplebricks but has been frustrated by the process.
A stock market update from Purplebricks this morning said: “At the current time Strike is not participating in the formal sale process.
“As noted in the announcement of the process, all participants are being required to enter into a non-disclosure agreement (NDA) on terms satisfactory to Purplebricks.
“Such NDA reflects terms typical for a Formal sale process and enables process to run in a fair and coordinated manner for the benefit of Purplebricks' stakeholders.
‘There can be no certainty as to whether Strike will make an offer for Purplebricks, nor the terms of any such offer.”
The announcement highlights that takeover code rules that Strike either announces a firm intention to make an offer or announces that it does not intend to by no later than 5pm on 12 April 2023.
This deadline can be extended with the consent of the Takeover Panel.
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I'll sell Strike scrap lead if they want some.
Two dinosaurs fighting it out to the death.
Genuinely how does a company that's £60m+ in the red acquire anything let alone another major loss-making operation? Two big losses don't equal profit.
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