PR and direct marketing group Lopex is unlikely to face an all out
takeover, despite the acquisition of an 11 per cent stake by
Incepta, which merged with Citigate Communications following a reverse
takeover by the PR group in December, bought 4,275,000 ordinary shares
in Lopex last week for pounds 1.94 million. The move led to speculation
that Incepta was poised for a takeover bid.
However, Lopex’s chief executive Peter Thomas told PR Week that he
considered a hostile bid unlikely. ’I don’t think hostile takeovers are
very common in PR and in a people business I think that would be quite
an irrational move,’ he said. ’Incepta is a very new company and nobody
is quite sure on what basis the deal took place.’ Thomas added that
Incepta had not given him prior warning of the share purchase and that
there were no plans for the PR arms of the two groups to move closer
together. ’I am happy to talk to anyone about joint affiliations but we
have had no substantial conversations yet,’ he said.
Recently Lopex has suffered from recent poor results. The reported
pre-tax losses of pounds 1.49 million for the year to December 1996.