LONDON (Thomson Financial) - TMN Group Plc. said it has received an
indicative cash offer of 70 pence per share from funds advised by August Equity
LLP working together with TMN executive directors Mark Smith and Craig Dixon.
The online marketing and online market research service provider said the
indicative offer is still subject to satisfactory due diligence so there is no
certainty that a formal offer will be made or to the terms on which an offer be
might made.
Direct marketing company Tangent Communications Plc. pulled out of offer
talks with TMN on April 8 after making an offer valuing the group at some 50
pence per share in March. Since Tangent pulled out, shareholder Mike Danson
significantly increased his stake in TMN to 24 percent.
TFN.newsdesk@thomson.com
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