RDI share price falls on Cromwell retreat

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RDI Reit saw its share price fall 4% on Wednesday to 134.4p in reaction to news that Australia’s Cromwell Property Group had dropped its takeover approach.

Last month Australian Investment giant Cromwell Property confirmed it was in takeover talks with RDI, causing the latter’s share price to rocket 14%. RDI said it refused to approve an extension period for Cormwell to continue due diligence as the offer undervalued the company.

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