Aviation control system developer Adacel (ASX:ADA) has revealed that talks with a prospective buyer of the company have broken down.
Adacel said a 14-day exclusive negotiations period with the unnamed company had failed to result in the development of a proposal the directors feel they can endorse.
The buyer had been interested in acquiring 100% of Adacel.
The board said it would continue to pursue strategies aimed at enhancing shareholder value.
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