IFG shares slide after talks on possible takeover end

IFG, a Dublin-based financial services group, fell the most in more than eight years after it said talks on a takeover bid with Bregal Capital concluded without a bid.

At lunchtime, IFG shares dropped 29% to €1.16, the biggest intra-day declined since February of 2003. However, the shares ended the day slightly up closing down 26% at €1.20 in Dublin.

“In view of the current dislocation in global markets, both IFG and Bregal have agreed to discontinue discussions” about a takeover, IFG said.