Carraig Capital has ended talks on a proposed takeover of Belfast-based digital camera maker Andor Technology.
Carraig, controlled by Eugene and Paul Murtagh, said it had increased its offer to 80p per share and had told Andor's independent directors the offer would become unconditional if acceptances from shareholders representing 50% of the company were received.
But Carraig said Andor's independent directors had told the company it was not prepared to recommend the offer.
'Carraig is disappointed to conclude that it is not at this time productive to continue discussions with the independent directors in relation to a revised proposal,' it said.
