Safestay tumbles as Infill abandons £40.9m pursuit

(Sharecast News) - Safestay shares tumbled on Tuesday after Infill Capital Partners said it does not plan to make an offer for the hostel operator. Safestay confirmed earlier this month that it was in talks with real estate investment firm Infill over a potential £40.9m takeover.

Under UK takeover rules, Infill had until 1700 BST on 7 August to either announce a firm offer or walk away.

At 1235 BST, Safestay shares were down 45% at 13.20p.

See latest RNS on Investegate