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.
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Over the last five days the share value has dropped 22%
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