Cello Plays the Right Notes with Navigator Marketing Firmsteven Vass Reports On the Latest Big Shock to Hit Scotland's Advertising Sector

Summary

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WHILE some of us might be mired in the January blues, the management team of Navigator Responsive Advertising are probably too busy wondering what hit them to have even noticed which month it is.

The direct marketing company had turned away numerous suitors in the past, but in December London-based Cello Group emerged from nowhere with an offer the team couldn't refuse: pounds-4.6 million for the whole operation in cash, shares, loan notes and bonuses on future results.

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Cello Plays the Right Notes with Navigator Marketing Firmsteven Vass Reports On the Latest Big Shock to Hit Scotland's Advertising Sector

At roughly 10 times annual earnings, this is about double what the Scottish agency might have expected to attract.

After several meetings in London and Edinburgh, chairman and chief executive Andy Carolan and managing d...

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