Cake Box rejects 160p a share takeover approach from River Capital

(Sharecast News) - AIM-listed Cake Box said on Thursday that it had rejected an unsolicited takeover approach from Melbourne-based investment group River Capital at 160p a share. Responding to press speculation, the company confirmed that an indicative approach was made in early June.

"The board unequivocally rejected the indicative approach as materially undervaluing the company and no further discussions with River Capital have taken place," it said.