Brightside rejects revised Markerstudy offer
The board of Brightside has rejected Markerstudy’s revised offer as “fundamentally” undervaluing the broker and has dismissed the need for future takeover talks.
Markerstudy had called on Brightside to extend the deadline again for takeover talks as it cut the value of its bid from £123m to at most £100m.
However Brightside hit back saying that the proposed reduced offer of between 20-22p "fundamentally undervalues the company and therefore [it] sees no need in proceeding".
In a statement to the Stock Exchange it added that throughout discussions with Markerstudy it had "concerns about their ability to secure the necessary debt financing to fund an offer
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