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NEWS26 May 2009

Next Fifteen calls time on takeover talks

M&A News UK

UK— Next Fifteen, the PR group that owns Redshift Research, is to remain independent – at least for the time being – after takeover talks with rivals Chime and Huntsworth were cut short.

Discussions got underway earlier this month but were brought to a close late last week.

In a statement Next Fifteen said: “It is important to emphasise that these discussions have been ended before any of the parties involved undertook any due diligence or reached any definitive agreement.

“The board of Next Fifteen believes that the interests of both shareholders and the business are best served by remaining as an independent group at the present time.”

Huntsworth was silent on the issue but Chime confirmed that it has “no current intention” to make an offer for Next Fifteen – though it reserves the right to acquire shares in the group.

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