Snub: Brave Bison submitted share offer valuing Mission Group at £27m
Digital marketing company Mission Group has rejected an acquisition approach from rival Brave Bison.
The London-based media, marketing and technology company launched a 29-share annual share offering that valued Mission Group at £27 million.
Mission rejected the offer, claiming it was “opportunistic” and “significantly undervalues the group and its prospects.” Brave Bison last year bought social media agency Social Chain, founded by Dragons’ Den star Steven Bartlett.
The company said it was in talks with Mission’s board of directors and major shareholders.
Founded in 2011, Brave Bison was previously run by Ashley MacKenzie, son of former Sun editor Kelvin MacKenzie.
Brave Bison has until June 9 to make another offer for the group.