Mission Group evaluating improved offer from Brave Bison

4th Jun 2024 09:19

(Sharecast News) - Digital marketing firm Mission Group said on Tuesday that it was evaluating an increased takeover proposal from rival Brave Bison but that it still believes it does not reflect its contribution to the proposed combined group.

The latest offer - made on 25 May - values Mission shares at around 35.1p each and the group at approximately £32.3m, up from a previous offer of 29 p a share.

Mission said: "While the board's preliminary view is the revised possible offer does not reflect Mission's contribution to the proposed combined group, the board, together with its financial and legal advisers, is evaluating the revised possible offer and a further announcement will be made in due course.

"There can be no certainty that an offer will be made."

Brave Bison has until 1700 BST on 9 June to either announce a firm intention to make an offer or walk away.

At 0940 BST, Mission Group shares were up 6% at 26p.