Manbat Rejects Energy Acquisition

Manbat has opted not to go through with the acquisition of Energy Batteries Ltd after a period of due diligence. On 1 October 2008 Manbat Ltd entered into an agreement with Energy Batteries Ltd to look into the possibility of Manbat Ltd acquiring Energy Batteries Ltd. However, according to an official statement, “it has become apparent to the directors of Manbat Ltd that it would not be in the interests of Manbat Ltd to continue with the acquisition.