TMN suspends shares as takeover deal nears

Digital marketing services and research group TMN this morning (February 19) suspended trading in its shares on the Alternative Investment Market (AIM) pending “very early discussions” on a “reverse takeover” of the company.

TMN has seven core divisions spanning email marketing creative and buying, online research and affiliate marketing networks. Its companies include TMNmedia, ICD Research and affiliatefuture based in offices in London, New York, Madrid, Melbourne and the Netherlands.

The news comes after the group cut 25 jobs across its businesses and central office at the beginning of the month to reduce costs in order to ensure it ends its financial year next month “profitable and cash generative”.

At the time the company warned profits would be 50% lower than previously forecast as a result of the downward trend in advertising spend.

It is not clear at time of writing if one of the subsidiary groups is in line to take over the parent.

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