The Clap
The International Company for Medical Industries (ICMI) dropped its offer to acquire a company specialized in medical clothing production
More on ICMI
ICMI is a public company listed on the Egyptian Stock Exchange and specializes in healthcare equipment.
Backstory
ICMI had signed a preliminary agreement for the acquisition of a medical clothes company pending legal and financial due diligence. ICMI didn’t mention the name of the company subject to the acquisition.
The deets
ICMI announced that due diligence was the reason for dropping its offer. Instead, it is considering purchasing this company’s assets, such as operating equipment.
