AIM-listed legal group encourages bidder to increase it offer over Christmas.

Knowles Group yesterday rejected the sale offer from Systech, which was made earlier in the week, but hinted it may accept a higher bid.

A statement from the AIM-listed firm's advisors Brewin Dolphin Securities confirmed the cash offer had been declined by the Knowles board.

The statement added that Systech has been "encouraged to re-submit a higher offer" and that Knowles "intends to consider its options over the forthcoming Christmas holiday period".

Systech orginally put the bid in after Knowles founder Roger Knowles offered to sell the firm his 62% stake in the business.

Source

QS News