Audioboom says several parties in talks as strategic review continues
Audioboom Group PLC on Monday said its advisers have engaged in preliminary discussions with several parties, including possible offerors, as part of the company’s ongoing strategic review.
The London-based podcast producer said discussions are at an early stage and the company is inviting proposals to be made to the board over the next few weeks.
Shares rose 7.8% to 657.80 pence in Audioboom on Monday afternoon in London.
The company said possible outcomes of the strategic review may include ‘new investment to fund further acquisitions, a substantial acquisition or reverse takeover, a sale of either the company’s US or UK businesses or a sale of the entire issued and to be issued share capital.’
The company appointed J Goodwin & Co LLP and Rockefeller Capital Management LLC as its financial advisers to conduct the strategic review, which was announced on October 3.
Audioboom said the objective of the strategic review is ‘to accelerate Audioboom’s growth by building on its proven, scaleable and profitable business model and to capitalise on its position as global leader in podcasting.’
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