Groups make proposals to acquire Team Internet Group — Two investment

Shares soar on buyout talk.

Team Internet Logo with stylized "ti" and the words team internet in lowercase

Two investment groups have made separate proposals to acquire Team Internet Group (London AIM: TIG), the firm stated today.

TowerBrook Capital Partners (U.K.) LLP and Verdane Fund Manager AB each made offers with proposals to buy the firm’s outstanding shares for 125 pence each.

As a result, shares for the firm shot up from 91 pence to regarding 118 pence today.

Team Internet Group stated both entities made previous approaches to acquire the firm, and both were rejected by the board. The firm’s board is considering the fresh proposals.

The firm, formerly known as CentralNic, owns many domain name businesses. It is one of the largest registries for fresh top level domains, operates country code domains such as .sk, and owns domain name registrars such as Moniker, Instra, Internet.bs, and others. It also owns a domain parking firm, ParkingCrew, and a number of online advertising businesses.

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