Danson Ups TMN Stakes

Datamonitor founder and former CEO Mike Danson has upped his stake in takeover target TMN plc, the UK-based parent of research agencies iD Factor and ICD Research, to 19.2%.

Danson raised his shareholding from a previous 17.6% by buying an additional 1.2 million shares at 54p each. The news comes after rival digital marketing group Tangent pulled out of talks to buy TMN last week.

TMN is still in talks with other parties - believed to be newspaper publisher Trinity Mirror and private equity firms August Equity and 3i - regarding the purchase of the c.£40m business, and has set up a committee to evaluate all possible bids. Committee Chairman is Peter Harkness, who was previously a Non-Executive Director at Danson's information and analysis firm Datamonitor.

Last year Danson sold Datamonitor to Informa for £502m and netted around £85m for himself. He now owns 14.49 million TMN shares.

Web site: www.tmnplc.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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