Affiliate Future To Be Bought Again? Who cares about AOL?


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I’m not sure if anyone has blogged about this already! But it looks like the new company that owns Affiliate Future is target of a takeover from Tangent Communications.

Tangent have made an offer of about 50p per share of TMN. It’s not an all-cash offer however – 19.14p in cash and 2.572 new Tangent share for each existing TMN share.

The thing is that talks are apparently at an early stage so there’s no certainty that a deal will go through but they have recieved acceptances for 11.1% of the TMN capital on condition that a higher offer isn’t made.

And the share price has obviously reacted positively – moving up to and over the 50p valuation / offer by Tangent:

However it is still a fair amount under its 2007 high:

Then this afternoon M Danson, former Finance Director at Carlton TV and founder of DataMonitor has raised his stake to 7.6% of its capital by buying 5.74 mln shares at prices between 45p-50p, spending somewhere between £2,592,000 and £2,870,000 on them in total. Which is a good deal as the offer of 50p was made three days earlier.

Why did the market miss it? Do they think the take-over won’t go through? Did they value TMN less than 50p a share? Who knows! But it does show that Affiliate Future is truly a fantastic asset to have with its pretty strong revenue streams.

Back in February Investec rated it as a buy when it was around 28p-ish – they weren’t wrong (at present).

Good luck guys and I hope it all works well for the employees too!

Related posts:

  1. AOL Learning From dot com Farces
  2. Affiliate Future “Do” at Camelot Theme Park

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