Quebec-based Cossette Inc has received an offer from Cosmos Capital Group to acquire all outstanding subordinate voting shares of the Company at a price of $4.95 per share (52% more than the stock’s more recent closting price). The private equity fund controlled by François Duffar who is a former Vice-Chair and President of Cossette, and also includes Georges Morin, former Senior Vice-President at Cossette. Duffar resigned from Cossette yesterday after beign with the agency for the last 35 years.
Cossette has approximately 1,485 employees and offices in Quebec City, Montreal, Toronto, Vancouver, Halifax, New York, Irvine, Los Angeles, London and Shanghai. The agency includes a public relations division called Optimum Public Relations.