Shares in TT Electronics have fallen sharply today after DBAY Advisors confirmed it does not intend to make an offer for the company, wiping more than 13% off the AIM-listed group’s share price.

The sell-off followed a statement from DBAY, which had previously said on 9th December that it was considering a possible offer for the entire issued and to be issued ordinary share capital of TT Electronics, excluding shares already owned by funds managed or advised by DBAY.

So far today, its share price has dropped to 115p, while its market cap sits at just over £236m.