It was a failure on the buyers side. However the deal seemed fishy because they would not release the name of the buyer even after the initial approval by the board of directors. The final hurdle was that the legal counsel was reviewing the offer and completing due diligence, etc. Usually when a company offers to buy another company there is a name associated with the offer ( think cadbury here) and then approvals. Again, I know nothing of this company so maybe you guys will have a legit offer.
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