Shares in electrical products maker Laird fell 7 per cent to 190p after its US suitor Cooper Industries said it was still open to talks but would remain "disciplined" on the price.
Laird last month rejected a £493m – or 185p a share – approach from Cooper calling it too low and "opportunistic".
The Takeover Panel has ruled Cooper must table a formal bid or walk away by 1 August.
Even after yesterday's fall, Laird's shares are still up more than a third since news of Cooper's interest emerged.
- More about:
- Mergers And Acquisitions
- Stock And Equity Market & Stock Exchange
- Tokyo Stock Market