SWEDEN - Triton makes SEK 1.5bn bid for listed Cision

Linn
01 May 2008

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Triton, through Swedish holding company Cyril Acquisition AB, has made a public offer of SEK 1.5bn for Cision, a Stockholm based PR, IR and marketing communication and consultancy business. The bid is set to SEK 20 per share, which is a 66% premium compared to the closing price 29th of April 2008.

According to the company’s press release, the board accepted a request for limited due diligence prior to the announcement of the offer, and certain non-public information has been disclosed to Triton.

Anders Böös, the chairman of the Cision board, is also a member of the industrial board of Trition and therefore announced that he will not participate in any preparation or decision made by the board on connection with the offer.

Cision provides services and software solutions for reputation and campaign management, media monitoring and research of media contacts. The company’s shares are quoted on the OMX Nordic Exchange and currently it has 17,000 shareholders. The group has approximately 2,600 employees and recorded turnover of SEK 1.9bn in 2007. Besides Sweden, Cision has offices in Norway, the US, the UK, Canada, Germany, Finland, Denmark, Portugal, Lithuania, The Netherlands and China and has partners in 125 countries.