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Go Compare dismisses unsolicited takeover bid by Zoopla owner ZPG

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By John Glenday, Reporter

November 15, 2017 | 2 min read

Go Compare has rejected out of hand an unsolicited bud by ZPG, owner of Zoopla and USwitch, to buy the price comparison tool outright after its board voted ‘unanimously and unequivocally’ to reject the bid.

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Go Compare dismisses unsolicited takeover bid by Zoopla owner ZPG

The latest offer was received by Go Compare on 8 November, proposing an acquisition of the web portal for a consideration of 110p per Go Compare share in a combination of cash and shares.

Sir Peter Wood, Go Compare chairman, remarked: “ZPG’s proposal is highly opportunistic and fundamentally undervalues the company and its prospects.

“This was unanimously and unequivocally rejected by the board of GoCompare which believed that it fundamentally undervalued the business and its prospects. Since May, GoCompare has delivered H1-2017 results which were ahead of expectations.”

ZPG previously offered 110p per share for the financial services aggregator in May, wholly paid for in the form of ZPG shares.

Go Compare recently thrust Monster Bill, a new puppet mascot, into the limelight to accompany its longstanding Gio Compario campaign.

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