Interactive Investor has abandoned a possible bid for Share causing the brokerage firm’s stock to plummet this morning.
The investment platform said it had been in early stage discussions after approaching Share, which owns The Share Centre, but had decided not to make an offer.
Share’s share price dropped as much as 10 per cent this morning following the announcement.
Last week Share's stock soared 22 per cent last week to 37.7p when the potential takeover was revealed, reaching its highest value in almost four years.
“Early stage discussions took place about a possible combination of the Company and Interactive Investor,” Share said in a statement this morning.
“Shareholders were advised that there was no certainty that an offer would be made for the Company, nor as to the terms on which an offer might be made.
“The Board notes the announcement made earlier today by Interactive Investor that it does not intend to make an offer for the company.”
Share said discussions could be reopened in the future with the approval of the board.