Centaur Media, the event and business magazine publisher, has hit out
at claims it is awaiting a serious takeover offer from Critical
Information Group (CIG), a UK company formed to acquire and consolidate
media companies and businesses.
CIG has been told by the UK Takeover Panel to “put up or shut up” over
its bid to acquire Centaur, organiser of Earls Court’s National Home
Improvement Show, and must formalise its intention by 7 December or
wait six months before being allowed to try again.
However, a spokesman for Centaur told Conference News that there had
been no direct conversation with CIG after the company’s initial
declaration of interest to the London Stock Exchange on 17 September.
“What their reasons were for announcing this to the whole stock market
are unclear, but we’ve heard nothing since. There is nothing going on;
these claims of takeover stem purely from the announcement CIG put out
on the stock exchange.
“This ‘put up or shut up’ request is our way of putting this annoying distraction behind us.”
Centaur rejected CIG’s indicative proposal on the grounds that it
materially undervalued the company. CIG responded by saying it
maintained its interest in acquiring Centaur and would actively
consider its options.
As well as organising events, Centaur publishes business-focused magazines including Marketing Week and The Lawyer.
Shares at Centaur Media have jumped 45 per cent in the last three
months, trading at £0.54 (US $0.89) on the London Stock Exchange on