City and finance reporter for the Daily Mail
Updated: June 4, 2024 22:00
Digital marketing company Mission Group has announced that it is considering a larger takeover bid of £32.3 million from a rival firm.
Brave Bison, which owns the Social Chain Agency founded by Dragon's Den star Stephen Bartlett, said on Monday it had submitted an increased bid of around 35.1 pence per Mission share on May 25 after its initial offer was rejected.
This exceeds Brave Bison's initial all-share takeover bid of around 29 pence per share and values Aim-listed rival Mission Group at around £27 million.
But Mission Group said the latest acquisition move may not be enough.
Brave Bison has until June 9 to decide whether to make a formal takeover bid for Mission Group or back out. Mission Group shares rose 14.3 percent, while Brave Bison shares were unchanged.
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