Hotline: Creston confirms talks with private equity group

Creston, the marketing services group that owns Delaney Lund Knox Warren & Partners and Tullo Marshall Warren, has confirmed it is in talks with a private equity group about a management-backed buyout of the business.

Press reports suggest that the offer could value Creston shares at 80-90 pence, a considerable premium to its current share price. The buyout would retain Creston senior management, including the chief executive, Don Elgie, and the finance director, Barrie Brien, to run the business.