Wassall backs away from Allied

Wassall backs away from Allied

WASSALL, THE investment conglomerate, has decided not to proceed with a bid for Allied Carpets. The group said yesterday it was not in the interests of its shareholders to top a 93p-per-share bid for the carpet retailer from the privately owned Tapis Saint-Maclou of France. The French deal is backed by Allied's board, and values Allied Carpets at pounds 84.2m.