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U.K. shingle Shed, makers of reality skein "Supernanny," has rejected a management takeover bid.

The outfit said Thursday that a revised cash offer of about £1 a share ($1.40) from a consortium including its executive directors was rejected Dec. 30, and that talks ended last month.

However, it isn't ruling out a takeover. In a statement to the London stock exchange -- Shed is listed on the Alternative Investment Market -- the company said, "The executive directors confirm that, while not currently considering making a further approach, they do not wish ... to limit their further ability to do so."

The bid is said to have been led by former CEO and founder Eileen Gallagher.

Shed owns a number of shingles, including Wall to Wall, makers of celebrity genealogy skein "Who Do You Think You Are?," and Ricochet, which produces "Supernanny." It built its reputation on dramas like "Footballers' Wives."