Remstar Distribution and acquisition financing affiliate Placements St-Mathieu have withdrawn an offer to buy 100% of the issued and outstanding shares of Behaviour Distribution. The decision to back out of the deal, with an initial estimated value of $3 million to $4 million, followed the close of the due diligence period, extended to July 5.

‘Behaviour continues to seek opportunities for its Canadian domestic film distribution operations which will maximize shareholder value. We will continue our discussions with other interested parties,’ says Bernard Legendre, president and ceo, Behaviour Communications.