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Purplebricks remains in discussions with “credible bidders” about a sale of its business, a stock market update has revealed.
An announcement from the beleaguered online agent said the company has progressed into a more targeted phase of detailed diligence and discussions including with rival brand Strike, which Estate Agent Today previously revealed was interested in an acquisition.
The update said: “As previously announced, Strike is not currently participating in the formal sale process, however, discussions between Purplebricks and Strike have been and remain ongoing.”
Purplebricks said it has had an extension approved to the deadline for when Strike must decide if it will make an offer.
Such announcement must now be made by not later than 5pm on 10 May 2023.
The update said: “There can be no certainty as to whether Strike will make an offer for Purplebricks, nor the terms of any such offer, if made.”
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As in the immortal words from The Great Escape "Good Luck"
Something worth diddly squat.....being purchased by a company worth diddly squat.
Have investors not had their fingers burned enough?
You really couldn't make this up!
Sounds like a vanity project by Strike to me. Who in their right mind would invest in this type of business now the evidence suggests as a business model all it does is burn cash?
6p a share yesterday, maybe this fluff will help drive it down to 2p by the weekend. Uber did something different to hailing a taxi or getting food delivered quickly (though it has never made profit, despite turning over 17BN plus in recent years and making a 6BN loss) Purple/Strike are doing nothing new, that is their problem, their DNA is not fit for purpose.
Strike making on they are doing alright and better the PB, your have a laugh!
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