BRAVE BISON GR.PLC LS-001

The board of directors of System1 unanimously rejected a revised takeover proposal submitted by Brave Bison. The offer proposed 2.04 Brave Bison shares plus 135 pence in cash per System1 share (implied 321.7 pence) or alternatively 3.36 Brave Bison shares in a pure share swap (307.4 pence), both discounts to System1’s most recent closing price. The board considers the bids not appropriately fair and received no support commitments from major shareholders; it also points to positive company figures and announces a trading update for August. Shareholders were asked not to take any action for now. » More on de.investing.com

The Brave Bison Group reports first-half net revenue of £23.70 million, up 97% year on year, and adjusted EBITDA of £4.20 million (+87%). The increases result from acquisitions and organic growth, supported by the MiniMBA platform (>20% per cohort) as well as performance marketing and sport & entertainment. The insights division came under pressure due to budget cuts following the Middle East crisis. Brave Bison closes the half with a net cash position of £4.7 million (+22%) and expects further cash generation in H2 2026 in the absence of acquisitions; the full-year profitability guidance remains confirmed. » More on de.investing.com

Per reports, Perplexity held talks about acquisitions with The Browser Company (Arc) and Brave before its $34.5 billion offer for Google’s Chrome, but could not agree on prices. The AI startup reportedly made Brave a narrow billion-dollar stock offer and is simultaneously working with Comet on its own browser solution to quickly gain user reach. The offer for Chrome was also intended as an option in case Google had to divest the browser for regulatory reasons and Perplexity wanted to keep the Chromium base. » More on golem.de