UK Small Caps

LONDON (ShareCast) - Hazardous waste management firm Augean (LSE: AUG.L - news) confirmed that it is no longer in talks with any party about a possible offer after One Fifty One pulled out of a bid.

The group said talks with One Fifty One were terminated after no offer was forthcoming "at a level or structure which the board was prepared to recommend to the company's shareholders."

One Fifty One also said it is "disappointed" to confirm the talks have ended. "One51 will be requesting appropriate board representation as the company's largest shareholder and will also seek to engage with the company's key shareholders."

Augean added that it is pleased that the prolonged period of uncertainty has come to an end. "Our priority continues to be the creation of long term shareholder value, and we believe Augean is uniquely well positioned to provide services to the hazardous waste market and to prosper as an independent entity," it added.