Adtech group Tremor screens interest from potential bidders
The adtech group which counts Rebekah Brooks among its board members has drawn enquiries from a number of prospective trade and financial bidders, Sky News understands.
Mark Kleinman
City editor @MarkKleinmanSky
Tuesday 14 March 2023 13:19, UK
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Tremor International, the London-listed advertising technology company whose directors include Rebekah Brooks, the boss of The Sun newspaper’s publisher, has received a string of enquiries from prospective bidders.
Sky News has learnt that Tremor, shares in which have more than halved during the last 12 months, has been contacted in recent weeks about a potential deal.
Sources said that Tremor’s board, chaired by Chris Stibbs, had asked bankers at Goldman Sachs to review its options and evaluate a fair price for a formal offer.
It comes a year after an approach, said to have been pitched by a US buyout firm at 900p-a-share, was withdrawn amid market uncertainty prompted by Russia’s invasion of Ukraine.
It remains possible that no formal bid will be made for the company during the latest set of discussions.
Tremor, which provides digital advertising solutions to clients such as Amazon, Disney and Twitter is said to have been approached by both strategic and financial bidders.
Investors in the company have long been unhappy at its weak share price performance and forced it to withdraw pay-related resolutions at its most recent AGM.
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Tremor now has a market capitalisation of just £330m despite having struck an earnings-accretive deal last year to acquire Amobee, a California-based peer.
Shares in Tremor were trading on Tuesday afternoon at around 235.8p.
A Tremor spokesman declined to comment.
