Possible deal for Cordlife shares is off

CORDLIFE Group has updated that a possible transaction announced earlier in relation to its shares is not on the table anymore.

The mainboard-listed cord blood banking company, in a bourse filing on Wednesday (Sep 13), said it had been notified that the confidential discussions between Cradle Investments and the third party in relation to a possible transaction has ceased.

Shares of Cordlife hit a three-year high of S$0.495 amid heavy trading on Jun 26 after the company said it was aware of a possible transaction for an offer for its shares.

Cordlife received a written notice dated Jun 21 about confidential discussions between Cradle Investments and a third party over a possible transaction for Cordlife’s shares.

The counter was up 2.4 per cent to S$0.425 at market close on Wednesday, before this update was made.