The board of education support services firm Tribal Group has announced that it is no longer in discussions with any party regarding a potential offer for the company.

In a statement, the firm says it has received confirmations from each party with whom it was in talks that they are no longer considering an offer for the company.

Consequently, Tribal no longer remains in an offer period under the City Code on Takeovers and Mergers.

Tribal chairman John Ormerod says: “It is in the best interests of the company that the uncertainty surrounding its future ownership has now been brought to an end.

“It is to management’s and our employees’ credit that during this period of uncertainty Tribal has been successfully transformed into a focused education business, which has continued to grow and has maintained good levels of profitability.

“Tribal is today on a sound financial footing and has good growth prospects, underpinned by high levels of committed income and a strong sales pipeline.”