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UK software firm Micro Focus has watched its share price slide after revealing that takeover talks with two finance houses have come to an end without a deal being struck.
Originally the firm had set last Friday as the deadline for talks but revealed that after receiving feedback from the potential bidders yesterday it had decided to terminate the process.
According to sources one of those that was potentially buying, Advent International, blamed current market conditions for the move to end talks.
The impact on Micro Focus, which has been looking for a buyer since April, was felt in the share price which dropped by 4% but there were some positive reactions from some analysts to the announcement that the vendor will start buying back its shares.