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System1 Board Rejects Brave Bison's Third Takeover Bid

MT Newswires·07/31/2026 08:56:14
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08:56 AM EDT, 07/31/2026 (MT Newswires) -- System1 Group's (SYS1.L) board said Friday it "unanimously and unequivocally rejects" Brave Bison Group's (BBSN.L) latest takeover offer as it represents a discount to the target's closing share price on Wednesday. The media, marketing and technology company's latest proposal comprised 1.35 pounds sterling in cash and 2.04 Brave Bison shares for each System1 share, implying a valuation for the targeted marketing research company of 3.217 pounds per share. Brave Bison also included an alternative all-share offer that values each System1 share at 3.074 pounds. System1, which rebuffed the potential buyer's first two offers, said the third proposal offers no real change in value from the previous bid, and advised its shareholders to take no action at this time. Brave Bison is System1's largest shareholder with a 28% stake.