Pala Withdraws Rockwell Bid

Pala Investments Holdings Ltd announced on Monday, that it had withdrawn its unsolicited offer to acquire all of the outstanding shares of Rockwell for $0.36 per share and was not proceeding with the offer.

The reason given by Pala for its withdrawal was that it had determined that a number of the conditions to the offer were incapable of being satisfied prior to the expiry date.