NEWS22 July 2009

Cossette forms committee to consider its options


CANADA— Bid target Cossette has formed a special committee to consider a takeover proposal from one of its co-founders and to review “the various strategic options available” to the marketing communications group.

In a statement, Cossette said: “The committee may actively solicit and consider proposals from third parties relating to the acquisition of the company.”

The firm received an approach from its co-founder and former vice chairman and president François Duffar earlier this week.

Duffar’s Cosmos Group – which includes another former Cossette executive Georges Morin – is offering C$4.95 per share to acquire the company in a deal valuing the business at C$78m.

Cossette provides strategic planning and research services through its agencies Nucleus and Impact Research in Canada, Cossette in the US and Miles Calcraft Briginshaw Duffy in the UK.