Markerstudy cuts Brightside offer to £100m and calls for clarity
Markerstudy has revealed that it has cut its offer for Brightside from 27p a share to 20-22p per share valuing the company at £100m at most, down from £123m previously.
The company has until 5.00pm today to make a formal offer, having already had the deadline on talks extended.
However Brightside has refused to sanction a further extension and Markerstudy has stated in an announcement to the Stock Exchange that such a decision would amount to a rejection of its offer.
If there is no resolution via an extension or formal offer today then under Stock Exchange rules Markerstudy will be unable to bid again for Brightside for six months.
Markerstudy highlighted that
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