(Alliance News) - The UK Panel on Takeovers & Mergers has granted a waiver to Audioboom Group PLC, not requiring the podcast company to publicly disclose potential bidders, the company announced Wednesday.
The audio and podcasting distribution platform earlier in February hired Raine Advisors Ltd to evaluate a range of strategic options, including a potential sale of the company.
Audioboom on Wednesday said that although it has received initial enquiries, it is currently not in discussions with any potential offerors. The strategic review process, including the formal sale process, is expected to conclude in the third quarter of 2020.
Audioboom shares were trading 3.6% lower at 265.00 pence each on Wednesday afternoon in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Audioboom Grp. (BOOM)