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System1 Group PLC on Friday reiterated its view that Brave Bison Group PLC’s takeover approach ‘materially undervalues’ the company. System1, a London-based marketing firm, said the offer by Brave Bison, a London-based advertising and communications agency, ‘does not represent fair value for System1 shareholders’. Brave Bison, which holds a 28% interest in System1 and is its largest shareholder, last week Friday tabled a new cash-and-shares proposal. Under this, System1 shareholders would receive 2.7553 Brave Bison shares and 68 pence in cash for each share held, worth 317p per System1 share, or £43.1 million, based on Brave Bison’s 90.5p closing share price last week Friday. System1 on Friday said: ‘The board of System1 continues to unanimously and unequivocally reject the revised proposal.’ System1 shares closed 0.9% higher at 328.00p each on Friday in London, while Brave Bison shares closed 1.1% lower at 86.50p. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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