Perform Group’s board rejects £700m Len Blavatnik offer

 
Oliver Smith
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Sports presenter Gabby Logan sits on Perform's board
Directors at London-listed internet sports distribution firm Perform Group yesterday rejected the £701.6m takeover bid by Ukrainian-born billionaire Len Blavatnik’s investment group Access Industries.

Perform – which floated in 2011 and supplies video clips, live action and sports news and data to media groups and online bookmakers – saw its shares soar 26.35 per cent on Monday following the disclosure that Access was looking to increase its 42.6 per cent stake.

“The board values Access Industries as a long-term shareholder and supporter of the company but has concluded that the final cash offer undervalues the company and its prospects,” said Perform in a statement yesterday.

Perform’s board, which includes sports presenter Gabby Logan, said it will recommend shareholders to reject Blavatnik’s bid.

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