Reunert has decided not to make an offer for CS Holdings, while Enterprise Outsourcing Holdings (EOH) says it could make an offer within 10 days.
At the same time, Reunert`s representatives on the CSH board, Pat Gallagher and Boel Pretorius, have resigned as non-executive directors of CSH.
Pretorius, Reunert CEO, was at a presentation and could not immediately be reached for comment.
However, CS Holdings has told shareholders that it has begun talks with EOH relating to that company`s intention to make an offer for CSH.
Reunert had previously been in discussions with CSH relating to a proposed offer of 35c a CSH share.
CSH says that "Reunert Limited late on 17 May 2004 informed the company that it will not, at this stage, be proceeding with its proposed acquisition of the shares in or business of the company".
It says further that EOH has indicated that, on the basis of the review of information it has requested from CSH, it should be in a position to make an offer within 10 days.
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