ilion rejects suitors
No one willing to pay what it wants, apparently
ilion Group today said that all takeover talks with prospective buyers had been terminated. It claimed none of the offers had adequately reflected the value of the company, in a statement to the stock exchange made this morning. On 15 April ilion announced it was in "very preliminary discussions" with a number of interested parties. On 14 July it rejected a bid of 114 pence per share from rival Landis, saying it seriously undervalued the company. ilion today said prospects for the second half of 1999 remained "encouraging", and the board believed ilion had an "exciting future as an independent business". Despite this brave prediction, ilion's share price dropped nine pence, or 7.4 per cent, to 112.5 pence in the first hour of this morning's trading. ® Related Stories ilion figures let down by UK -- again Euro listing to save ilion ilion says no thanks to Landis bid offer Brave faces all round at ilion Cisco fall-out sees ilion sue Ciscom
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