DIC pull out of Liverpool takeover

Dubai International Capital (DIC) have pulled out of the Liverpool FC takeover bid.

A statement from DIC read: "Dubai International Capital LLC today announces that it has decided to end negotiations with Liverpool FC & Athletic Grounds plc about a possible investment in the club. Having completed due diligence, DIC submitted a comprehensive offer to the Liverpool board. The offer had been accepted in principle by majority shareholder David Moores. It appears that the Liverpool board and the majority shareholder David Moores were unable to approve these terms in order to allow DIC to make a formal offer to all shareholders."