(Alliance News) - Be Heard Group PLC on Tuesday confirmed it is in talks with a suitor over a potential GBP6.3 million acquisition of the digital marketing services company.
Be Heard shares rocketed 87% to 0.48 pence each in London on Tuesday shortly after midday. It is currently up 55% at 0.40p, giving the London-based firm a market capitalisation of GBP5.0 million.
The company is in "advanced discussions" with MSQ Partners Ltd over a potential 0.5p per share offer, which would value Be Heard about GBP6.3 million.
However, Be Heard said MSQ has "expressly reserved the right to reduce the offer" by the amount of any dividend or distribution which Be Heard will pay following its announcement on Tuesday.
MSQ is a marketing firm based in London and lists the likes of Unilever PLC, Walmart Inc and International Consolidated Airlines Group SA's British Airways among its clients.
By Eric Cunha; ericcunha@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
International Airlines (IAG)
Unilever (ULVR)