An international asset management firm has abandoned a plan to acquire stock-exchange listed Anexo Group, the owner of personal injury firm Bond Turner. DBAY Advisors acquired a 29% stake in Anexo, which describes itself as 'a specialist integrated credit hire and legal services provider acting for the non fault motorist' last year. 

In June, Anexo revealed that it was considering an offer at 150p a share. However DBAY revealed yesterday that it did not intend to make an offer for the company. 

In a statement to the stock exchange, where it is listed on the junior AIM market, Anexo said: 'Discussions with DBAY have not led to an offer which, in the view of the board, reflected the value of the company, and which the board therefore would have felt able to recommend to shareholders.'

Alan Sellers, executive chairman, said: 'The group’s relationship with DBAY has been amicable throughout our lengthy discussions and DBAY remains a supportive shareholder.'

He said that the company’s activities 'continue to accelerate as UK lockdown measures ease, especially with the imminent release of pent-up case settlements as the UK courts system begins to open'.

Anexo Group shares slipped 7% to 131.5p today, down from a peak of 148p in July.