The sale of Dutch conglomerate Stork is set to drag on for at least another month after the latest private equity bidder failed to secure the company in one of Europe's longest running buyouts.

UK-listed private equity group Candover has withdrawn its offer for the company after being unable to gain at least 80% of Stork's shares following Marel, an Icelandic rival, upping its stake in the company in excess of 43% and refusing the buyout group's bid.