View more on these topics

Rejected bidder is revealed

Ontario Teachers’ Pension Plan board has revealed that it was the bidder rejected by 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,’s majority shareholder, in relation to a possible offer for

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

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



News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm