Elliott Advisors has said it’s no longer interested in making an offer for electrical retailer Currys after it was rebuffed twice by the company.
The activist investor said this morning that after “multiple attempts to engage with Currys’ board” it will now abandon plans to take over the business.
Last month, Currys shut down a £700m takeover from Elliott on the grounds it undervalued this business.
That was followed a few days later by a second bid from the hedge fund worth around £750m, which was also rejected.
Stakeholders in the British computer and household goods seller have since come out to say they want at least £1bn for the group.
Elliott Advisors said: “Following multiple attempts to engage with Currys’ board, all of which were rejected, it is not in an informed position to make an improved offer for Currys on the basis of the public information available to it.
“Elliott therefore confirms it does not intend to make an offer for Currys.”
Questions remain about whether Chinese online shopping giant JD.com will make a swoop for the business.
The firm previously said it held discussions about a possible takeover of Currys.