Brave Bison (LSE:BBSN) has launched a formal offer to acquire the shares in System1 Group PLC that it does not already own, after increasing its proposal to an implied value of 360 pence per System1 share.
The offer follows earlier proposals made during the summer and would result in Brave Bison taking full control of System1 if the transaction completes.
As of 1 October 2026, Brave Bison held approximately 27.85% of System1’s issued share capital.
The company has also received letters of intent relating to a further 11.34% of System1’s issued shares. Together with Brave Bison’s existing holding, this represents approximately 39.19% of System1’s issued share capital.
However, Brave Bison had received no formal acceptances of the increased offer as of the stated date. Letters of intent are distinct from formal acceptances and do not themselves constitute acceptance of the takeover offer.
System1 shareholders have until 26 October 2026 to accept the offer under the current timetable.
The proposed acquisition is intended to bring System1’s marketing analytics and advertising effectiveness operations under Brave Bison’s ownership.
About Brave Bison
Brave Bison is a UK-listed digital media and marketing services company providing services across areas including online content, social media and performance marketing.
System1 Group operates in marketing analytics and advertising effectiveness, providing data and insights to corporate clients.
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