Centaur rejects CIG takeover bid

LONDON - Centaur, the B2B publisher, has rejected a takeover approach by Critical Information Group, the media acquisitions company that counts Peter Bazalgette among its directors.

Centaur: rejected bid from CIG
Centaur: rejected bid from CIG

In a statement to the London Stock Exchange, CIG, which describes itself as "a company formed to acquire and consolidate media companies and businesses", said it made a takeover approach for Centaur on 17 September. This bid was subsequently rejected by the Centaur board. CIG did not disclose the value of its takeover approach. 

However, the statement added: "The company maintains an interest in acquiring Centaur and is actively considering its options."

In response, Centaur, publisher of The Lawyer and Marketing Week, said CIG's offer "materially undervalued Centaur and was not in the best interests of its shareholders."

The company said it remained confident in its own strategy, adding that it believed the group "is well positioned as a result of its portfolio of market-leading brands, a proven organic growth track record, a strong balance sheet and an experienced management team".

Bazalgette, the former UK chief executive and global chief creative officer of Endemol, joined CIG in June.

According to company filings with the London Stock Exchange, CIG's investing activities will focus on business-to-business media businesses, both in the UK and overseas, "with a particular focus towards businesses involved in publishing and events".

 

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