Oak Group (Oak) and PraxisIFM Group have announced the cessation of negotiations for a proposed merger of their respective global businesses.
With a particularly unpredictable global economic backdrop, a number of hurdles have led to the cessation of discussions. Oak stated however, that it would continue to seek value-enhancing transactions to maintain and enhance its growth plans into 2021 and beyond.
Stuart Platt-Ransom, chief executive officer of Oak commented: “This is a disappointing denouement for a period of close negotiation. Oak will however continue to concentrate on delivering its leading client offering and services while developing into a world-class enterprise with strong operational and leading people strategies.”
Oak’s senior management team wishes to thank all Oak and PraxisIFM colleagues and peers who have been involved in the negotiations up to this stage, notwithstanding the outcome.”
Roddy Watt / Gug Kyriacou
07714 770 493 / 020 7623 2368