The US private equity firm made its approach earlier this year before returning in March with a formal indicative proposal for the AIM-listed supplier, now branded BRCK.<\/p>\n
But Brickability\u2019s board moved quickly to reject the bid, saying it \u201cfundamentally undervalued\u201d the business.<\/p>\n
The firm had opened the door to talks and handed over limited information under a non-disclosure agreement to test Atlas\u2019 intent. <\/p>\n
That process has now stalled, with the board refusing to allow full due diligence unless a higher offer lands.<\/p>\n
In a clear message to the bidder, Brickability said any deeper engagement would only happen if Atlas comes back with terms the board would be prepared to recommend to shareholders.<\/p>\n
The stand-off now heads towards a deadline of 28 April under official regulator take-over rules.<\/p>\n
The move puts one of the UK\u2019s biggest brick and building materials distributors into play at a time when pricing pressure and weak demand are already squeezing margins across the supply chain.<\/p>\n
Atlas has been building a bigger presence in the UK construction market after reviving the Bovis brand last year, and a deal for Brickability would give it a major foothold in materials as well as contracting.<\/p>\n<\/p><\/div>\n
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