KARACHI: Fauji Foundation has officially withdrawn its public announcement regarding its intention to acquire Agha Steel Industries Limited (AGHA).
AGHA notified the Pakistan Stock Exchange (PSX) on Wednesday that they had received a formal notice of withdrawal from the potential acquirer. “The company has received notice of the withdrawal of the public announcement of intention from Fauji Foundation, citing inconclusive negotiations with the company, in accordance with Regulation 21(1)(b) of the regulations and relevant provisions of the act,” the statement read.
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