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Rejected Moneysupermarket.com bidder is revealed

Ontario Teachers’ Pension Plan board has revealed that it was the bidder rejected by Moneysupermarket.com yesterday.

The price comparison site yesterday revealed that chief executive and majority shareholder Simon Nixon had turned down an unsolicited approach from a bidder, as the offer did not contain indicative terms.

The move led to speculation over which firms might be in the frame to buy the price comparison site and among those tipped were Google, Pearson Group and ValueClick.

But a statement to the stock market this morning from Teachers’ revealed it had been the anonymous bidder.

It said: “At the request of the UK Takeover Panel, Teachers’ confirms that it made a preliminary approach, through Teachers’ private investment arm Teachers’ Private Capital, to Simon Nixon, Moneysupermarket.com’s majority shareholder, in relation to a possible offer for Moneysupermarket.com.

“Teachers’ has no current intention of making an offer for Moneysupermarket.com.”

But the firm said that under takeover and merger rules it reserves the right to make a future offer within six months should Moneysupermarket.com’s board reconsider or other circumstances change.

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