The Week: City News - Cossette considers offer

Cossette, the Canadian marketing group that owns Miles Calcraft Briginshaw Duffy and Elvis, has encouraged its shareholders to hold off tendering their stock until the board can review an increased offer made by the North American private equity group Cosmos Capital.

Last month, Cosmos made an all-cash, fully financed bid of $5.25 per share for Cossette, valuing the company at around $82.8 million. Cossette has assured all shareholders that it will conduct a thorough review of the new offer, and will make a formal recommendation regarding the bid in due course.