Shares in Auction Technology Group PLC (LSE:ATG) fell 8.2% on Monday after FitzWalter Capital confirmed it has withdrawn its proposed takeover approach for the company.
FitzWalter Capital, acting on behalf of funds and investment vehicles it manages or advises, said it no longer intends to pursue an acquisition after ATG’s board unanimously rejected its 400 pence per share proposal on 29 January 2026. The decision to abandon the bid was attributed in part to the board’s refusal to grant access for due diligence.
Under UK takeover rules, FitzWalter is now prevented from making another offer for ATG for a period of six months, unless certain conditions are met. These include securing the agreement of ATG’s board, responding to a competing bid, or a material change in circumstances as determined by the Takeover Panel.
The withdrawal marks a setback for FitzWalter’s attempt to acquire the business. Auction Technology Group operates online auction marketplaces serving sectors such as industrial and commercial equipment, art, antiques and collectibles. FitzWalter, led by Andrew Gray, made its announcement in line with Rule 2.8 of the UK Takeover Code and noted that it has retained limited rights to revisit an offer if permitted under the code’s provisions.
More about Auction Technology Group PLC
Auction Technology Group PLC is a UK-listed operator of online auction marketplaces, providing technology platforms that enable the sale of industrial and commercial assets, art, antiques and collectibles to a global buyer base.
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