Media acquisitions firm Critical Information Group has been given until 7 December to table a suitable takeover bid for Centaur Media, publisher of The Lawyer and Marketing Week.
A takeover panel today gave Critical Information a “put up or shut up” deadline to made a further bid for Centaur.
Critical Information said last month it retained an interest in buying Centaur despite having a bid rejected last month when the business publisher said its proposal undervalued the company.
The takeover panel said today that Critical Information must either announce a firm intention to either buy Centaur or express an intention not to table a further bid.
Should Critical Information decide not to table a further bid for Centaur it would be barred from making a further approach with an offer for six months.