A takeover deal that would have brought together two top shipbroking groups has fallen apart over price.

London based ACM Shipping has rejected a bid from Norway’s RS Platou that valued its business at almost £33m ($52m).

Rebuffed: Peter Anker managing partner and chief executive of RS Platou.
ACM said its board “believes that the proposal does not reflect full shareholder value and has therefore not been able to accept the proposal.”

But