Future Buys Price Comparison Company GoCompare for $794 Million
- U.K. specialist publisher to combine with ‘Go Compare’ owner
- Counterbid possible but regulation is a risk, says analyst
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Specialist magazine and website publisher Future Plc agreed to buy GoCo Group Plc to accelerate a push into digital commerce in a deal that values the price comparison site owner at 594 million pounds ($794 million).
GoCo Group shareholders will own approximately 19% of the combined business, the companies said in a statement. Future’s cash-and-shares offer represents a 23.6% premium to GoCo’s closing stock price on Tuesday.