Tricorona scraps EcoSecurities bid

3rd Sep 2009 07:22

Swedish firm Tricorona said it has decided not to proceed with an offer for Irish carbon credit company EcoSecurities.Tricorona announced in July that it is mulling the possibility of making a bid for the group.In response to Tricorona's statement, EcoSecurities said it is in ongoing discussions with another party regarding the possibility of making an offer for the group. There can be nocertainty that an offer or any other transaction will occur, it added.EcoSecurities is currently considering the terms of the revised offer from Dutch firm Guanabara Holdings.Guanabara earlier this week upped the ante in its hostile takeover attempt of EcoSecurities with an increased final offer of 90p per share, raising it from 77p.