Future, Britain’s biggest magazines publisher, has swooped on price comparison site GoCompare this morning, in a £594m takeover deal.
The board of GoCo Group has unanimously recommended that shareholders vote in favour of the deal. Future has already received undertakings representing 33.5% of shareholders, including from Wood, committing to the deal.
“In just four years since its demerger from Esure Group, GoCo Group has created significant shareholder value,” Wood said. “I believe the offer, comprised of a significant equity component, provides a compelling opportunity for shareholders to benefit in substantial future value creation.”
“We believe that the combination is a unique strategic opportunity to create a wading global specialist media and intent platform,” said Richard Huntingford, the chairman of Future.