Share prices fall as talks between AME and Cognition are terminated
Cognition share price fell 7.7% after talks with African Media Enterprises are terminated, but neither AME nor Moneyweb issue statements
The share price of digital marketing and market research firm Cognition fell 7.7% to R1.20 on Thursday after it said talks with radio station owner African Media Enterprises (AME) had been terminated.
AME, Cognition and Moneyweb issued a joint statement on December 1 saying AME "has lodged non-binding expressions of interest to acquire all of the ordinary shares of Cognition and/or Moneyweb with the respective boards of directors".
AME’s share price was unchanged after Cognition issued its "withdrawal of cautionary" statement via the JSE’s Sens service to say talks with AME were off, but Moneyweb’s share price fell 5% to 20c.
Neither AME nor Moneyweb had issued statements by 12.20pm, indicating AME may still be considering buying the financial news service.