Brave Bison submitted a raised bid of about 35.1p per Mission share, valuing the company at £32.3m, up from the initial proposal of 29p per share. Mission deems the new bid inadequate and awaits a decision.
Mission believes Brave Bison's offer significantly undervalues its potential. The revised bid of 35.1p per share represents a 55% premium to Mission's share price before the bid.
Mission will decide on Brave Bison's bid soon, with currently holding a preliminary view that it does not reflect Mission's value. Brave Bison is required to finalize its offer by 5pm on 9 June.
#takeover-bid-evaluation #valuation-concerns #premium-offer #mergers-and-acquisitions #company-performance
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