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".

 

Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

Election 2015: Where do people get their news?

Election 2015: Where do people get their news?

With the election almost upon us, the first in Newsworks' series of election trackers looks at where people get their news from.

Share
Judges rail against 'sexed up' work at D&AD open sessions

Judges rail against 'sexed up' work at D&AD open sessions

Judges at D&AD's open sessions in the Truman Brewery criticised the rise of video case studies in awards submissions, arguing they "sexed up" average work.

Share
Prime Mover: the priming effect of digital out-of-home revealed
[Sponsored feature]

Prime Mover: the priming effect of digital out-of-home revealed

Digital out-of-home is an exciting new medium with great scope for visual and interactive communication: but how effective is it as an advertising channel? Ocean turned to the world of neuroscience to find out

Share

Get news by email