(Reuters) - SonicWall Inc said the third-party bidder that offered to acquire the IT security company for $12 a share in cash no longer intended to pursue the deal.

Shares of SonicWall, which provides secure Internet access to both wired and wireless broadband customers, fell 3 percent in trading before the bell Tuesday.

In a regulatory filing last month, SonicWall disclosed it had received an unsolicited non-binding proposal from a privately held competitor, topping an earlier bid from private equity firm Thoma Bravo.

SonicWall said it still recommends that its shareholders approve the merger agreement with Thoma Bravo, which has offered to buy the company for $11.50 a share.

Shares of Sunnyvale, California-based SonicWall were down at $11.41 in pre-market trade. They closed at $11.78 Friday on Nasdaq. (Reporting by Sayantani Ghosh in Bangalore; Editing by Anne Pallivathuckal)