GoCompare.con - Zoopla offer rejected
GoCompare (GoCo) has rejected a mixed cash and share offer from property portal and Uswitch owner Zoopla. The offer, which valued GoCo at 110p per share, and was rejected by the board on the basis that it fundamentally undervalued the business. com (GoCo) revealed a 4.1% rise in revenue in the first half, notably slower than the previous half, although adjusted operating profits rose 21.5% thanks to an improved marketing margin. Revenue from Insurance products accounted for 94% of the group total and grew 3.5% in the half, driven by higher interactions, higher income per sale and improved conversion.