News of a potential takeover gave Purplebricks’ share price a boost yesterday.
Its share price rose 15.5% in a day after Estate Agent Today revealed that online rival Strike has expressed an interest in acquiring the brand, which was put up for sale last month.
Sources suggest that investors are ready but may be held back due to requirements for Strike to sign a non-disclosure agreement (NDA) which it is believed could stop it talking with its own backers.
Purplebricks has confirmed that it has been in discussions with online agency rival Strike.
The update 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 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 gave the Purplebricks share price a boost, rising to 8.09p during trading and closing at 7.97p.
It remains down 4% this week and is 91.65% below its 2015 listing price.
A new senior figure in Purplebricks claims the agency has much...
Purplebricks has received a media-for-equity investment from ITV. The deal is worth...
Strike remained in the red in the run up to its...
A media agency that has worked with brands such as Toyota...
The predictions game can be tricky. Sometimes you just don’t know...
Leading UK property auctioneer Bond Wolfe has broken through the £100...
Uncertainty triggered by the new Labour Government and taxation concerns that...
In today's rapidly evolving property market, the focus on reducing transaction...
.png)
An exciting new collaboration between TVPN, EstateApps and Paul Long is...
By Mike Bilboe, Face For Business Buying or selling a home can...
LSL Estate Agency Franchising is home to one of the UK’s...
.png)
Who are you and what does it say on...
Who are you and what does it say on...
Who are you and what does it say on...
.jpg){kind=avatar}
Join the conversation
Jump to latest comment and add your reply
Over the last five days the share value has dropped 22%
Please login to comment