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Critical Information Group

  • BY: Andrew Hore |
  • POSTED: 25/10/2009 |

Shell company Critical Information Group says that it remains interested in Centaur Media.

CIG approached business information publisher Centaur on 17 September 2009 but its advances were rejected. CIG is small but it has an experienced management team.

Centaur would rather be the consolidator in the sector and the board felt that the approach “materially undervalued“ Centaur. Publications include The Lawyer, Marketing Week, The Engineer and Money Marketing.

CIG had also approached Incisive Media but it was also rebuffed after this proposed offer. 

At 108.5p a share, CIG is valued at £3.26m.

At 53p a share, Centaur is valued at £74.7m. KBC Peel Hunt forecasts profits of £3.1m in the year to June 2010, down from £4.4m last year. That represents a prospective 2009-10 multiple of 35. 

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