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Chime and Huntsworth Consider Next Fifteen Buy
In the UK, PR and research groups Chime Communications and Huntsworth have both confirmed their interest in making a potential offer for PR and research group Next Fifteen - which owns Context Analytics and Redshift Research.
In response, the Board of Next Fifteen said they were considering these approaches, but that discussions are at a 'very early stage' and there is no certainty that either will lead to an offer.
Chime, which is the holding company for research and engagement firm Opinion Leader and PR group Bell Pottinger, also operates a number of advertising and marketing services groups.
Huntsworth owns several PR agencies working in the consumer, finance, technology and public affairs arenas, including Citigate, Trimedia and Quill Consulting.
Huntsworth is rumoured to be considering a cash deal (possibly with a share component) while Chime is said to be contemplating an all-share transaction.
Shares in AIM-listed Next Fifteen jumped more than 20% in morning trading, after the company confirmed that it had received approaches from both firms. This valued Next Fifteen at in excess of £28m.
For the six months ended 31 January 2009, Next Fifteen reported a 10% revenue hike to £33.5m and an increase in adjusted profit before tax of 15% to £3.55m.
Web sites: www.chime.plc.uk , www.huntsworth.co.uk and www.nextfifteen.com .
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