Update: Cossette rejects Cosmos takeover bid

The marketing services group has already agreed a similarly-priced deal with US private equity firm Mill Road Capital, which it has urged shareholders to accept over the Cosmos bid.

Cossette says it is still in communication with Cosmos over the suggestion that Duffar (pictured) and his colleagues may be willing to up their offer price to $8.10 per share, provided they are satisfied by what they see in the company’s books.

For more on that story, click here.