Diagnostic Services provider Integral Diagnostics (ASX:IDX) has responded to Capitol Health’s announcement that its takeover bid will lapse.
The Integral board unanimously recommended that shareholders reject Capitol's offer earlier this year.
The business describes Capitol's offer as a hostile takeover and as value destructive for shareholders.
Capitol announced a $340 million dollar offer for Integral in December last year.
The company says the independent expert also assessed that the offer was neither fair nor reasonable.
Shares in Integal (ASX:IDX) closed 0.95 per cent lower yesterday at $2.09 yesterday.