Finance
Brck Group Takeover Bid Collapses as Atlas Cites Insufficient Due Diligence
Published by Global Banking & Finance Review®
Posted on April 23, 2026
2 min readLast updated: April 23, 2026
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Quick Summary
Atlas Holdings has withdrawn its takeover bid for UK construction materials supplier Brickability Group (BRCK) after citing insufficient access to management and due diligence materials, prompting a 13.6% drop in BRCK shares on April 23, 2026.
Atlas Withdraws BRCK Group Takeover Bid Over Insufficient Due Diligence Access
Atlas Holdings Ends Pursuit of BRCK Group Acquisition
Background of the Takeover Bid
April 23 (Reuters) - Atlas Holdings said on Thursday it has no intention to bid for UK construction materials supplier BRCK Group after it was denied sufficient access to company information and management ahead of a looming takeover code deadline.
Market Reaction
Shares of the Bracknell-based BRCK slumped 13.6% to 45.45 pence after the announcement.
Details of the Proposal and Rejection
BRCK had in March rejected a 65-pence-per-share proposal from the U.S. private equity firm, saying it fundamentally undervalued the company.
Due Diligence Concerns
Atlas said on Thursday BRCK provided only limited due diligence materials through a virtual data room and a 90-minute meeting with its chief executive in April, which was limited and insufficient.
Request for Additional Information
The firm had requested further diligence information and an extension to the deadline under UK takeover rules, before BRCK's board indicated it would not grant more time to table a bid, forcing it to walk away.
Company Responses
BRCK did not immediately respond to a Reuters request for comment.
Reporting Credits
(Reporting by Yamini Kalia in Bengaluru; Editing by Shilpi Majumdar)
Key Takeaways
- •Atlas Holdings pulled its bid due to limited due diligence—only a virtual data room and a brief 90‑minute CEO meeting were provided, and no extension to the UK Takeover Code deadline was granted.
- •BRCK had previously rejected a 65 pence per share offer in March, deeming it undervalued, which initially triggered a share price surge before today's sharp decline.
- •The board’s refusal to extend timelines under UK takeover rules effectively halted Atlas’s ability to conduct necessary diligence and proceed with a bid.
Frequently Asked Questions about BRCK Group takeover bid collapses as Atlas cites insufficient due diligence
1Why did Atlas Holdings withdraw its takeover bid for BRCK Group?
Atlas Holdings withdrew its bid due to insufficient access to company information and management for proper due diligence.
2How did BRCK Group's shares react to the failed takeover?
BRCK Group's shares fell 13.6% to 45.45 pence following the withdrawal announcement.
3What proposal did BRCK Group previously reject?
BRCK Group rejected Atlas Holdings' 65-pence-per-share proposal, saying it undervalued the company.
4What due diligence access did Atlas Holdings receive?
Atlas Holdings only received limited materials through a virtual data room and a 90-minute meeting with BRCK's CEO.
5Did BRCK Group provide further diligence information or deadline extensions?
BRCK Group's board did not grant further diligence information or an extension to the bid deadline.
