Quarto Group Inc plummets as mystery bidder closes book on …

Quarto Group Inc (LON:QRT) was one of the biggest fallers in London this morning after revealing that a mystery bidder had closed the book shut on a possible takeover.

READ: Mystery bidder excites Quarto investors

The publishing group – which is behind books such as The Sex Bible and The Cannabis Cookbook – revealed at the start of the month that it was in talks with an unnamed potential buyer.

At the time, Quarto said the approach was at an early stage but was “worthy of due consideration”.

Mutual decision

As discussions progressed though, both parties found that the necessary regulatory approvals which would have been required were unlikely to be granted within the original timeframe.

“Recognising the importance of delivering a strong finish to the year and after carefully considering the interests of all shareholders, the board was not prepared to prolong discussions further to avoid distraction to

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