UK's Mission Group up after rejecting Brave Bison's possible takeover offer
13/05/2024 08:38
** Shares of Mission Group TMGT.L rise as much as 10% to
25p, their highest since Jan. 29
** UK-based marketing communication company's board says
non-binding 29p-a-share possible takeover offer from rival Brave
Bison Group BBSN.L "significantly undervalues" contribution of
Mission to proposed combined group
** Brave Bison's possible offer and nearly a resultant 45%
holding of Mission's shareholders in proposed combined group do
not fully reflect inherent value in Mission - TMGT board
** Brave Bison shares fall as much as 5% to 2.40p
** Mission shares up 5.7% as of 0727 GMT, taking YTD gains
to ~10%; BBSN stock down ~3%, trimming YTD gains to about 13%
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))