Red­stone Con­nect moves on

Shares - - SMALLER COMPANIES -

SMART BUILD­INGS so­lu­tions de­signer Red­stoneCon­nect REDS:AIM) has bat­ted-off a bizarre takeover ap­proach.

AP Sys­tems an­nounced a plan to buy Red­stoneCon­nect on 28 Septem­ber with­out con­tact­ing the com­pany di­rectly.

Hav­ing since re­ceived a for­mal let­ter, Red­stoneCon­nect has binned the pro­posal be­cause of the lack of de­tail. No val­u­a­tion was men­tioned, call­ing into ques­tion AP Sys­tems’ in­ten­tions. (SF)

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