Photo-Me International takeover bid collapses

GaryPageau

The takeover bid for Photo-Me International after a takeover bid lapsed, according to the Times. Tibergest PTE, the investment vehicle owned by CEO Serge Crasnianski, tabled an offer in January after it increased its stake in the photo booth operator to 36.5 percent, triggering a mandatory bid by bringing its holding above 30 percent.

At the time, Tibergest said, the deal would provide shareholders with a “liquid opportunity” that they would not get otherwise, given the low turnover of shares, according to the Times report. The company said, however, it had not secured the required number of acceptances.

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Gary Pageau is principal of InfoCircle LLC, continuing his marketing communications career. InfoCircle LLC is a marketing and communications consulting firm, specializing in business-to-business markets. For nearly 25 years, he was with PMA International, serving most recently as Publisher, Content Development and Strategic Initiatives. His primary responsibilities included overseeing the Association’s editorial department, marketing research unit, education and corporate relations department.