Takeover Panel steps in to calm Baltimore brouhaha

NEWS The Takeover Panel was forced to intervene in the ongoing spat between Baltimore Technologies and IT security firm Chantilley yesterday. The move followed a 17 per cent fall in Baltimore's share price, as it attempted to fend off an approach from Chantilley. Although Chantilley appeared to withdraw its takeover bid for the Irish security company, the Baltimore board later became agitated by calls from Chantilley FD Mike Downey to investigate "synergies" between the two companies. According to The Times, the Takeover Panel forced Chantilley to make it clear it had withdrawn its takeover and would not launch another hostile bid for six months. Baltimore recently announced it was slashing 250 jobs. Its share price dipped 6p to 28p yesterday, down from an all-time high of 901p last year. The Baltimore board yesterday reiterated that it was not talking to other firms about a bid for the company. Receive news direct to your PDA:
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