Alterian to Consider SDL's Revised Offer

UK-based analytics and social media monitoring specialist Alterian is considering a revised bid from translation software firm SDL, which is now offering 110p per Alterian share (or £68.7m).

Alterian, which was founded in 1997, recently announced cuts aimed at reducing its cost base by £10.6m - including the reduction of its workforce from more than 400 people to around 260 - following a slump from a pre-tax profit of £6.6m to losses of £4.4m earlier in the year.

At the end of October, SDL submitted an offer to buy Alterian for 80p per share, valuing the company at just under £50m. At the time, the Alterian Board - led by CEO Heath Davies (pictured) - rejected the proposal, but today the firm said in a statement that it is prepared to consider the new price.

Following news of the updated offer, Alterian's shares rose 14.5p to 102p, and the company said that a further announcement about the bid will be made in due course.

Alterian's interim results for the six months ended 30 September 2011 will be announced next week, on 16th November.

Web site: www.alterian.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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