Wynne Evans

Future shares sink after swoop for GoCompare

• Shares in the publisher behind Marie Claire, Country Life and Classic Rock have dived in the wake of its £594m offer for price comparison website GoCompare. Future has mounted a cash-and-shares takeover of GoCo Group to bolster its strategy of linking its vast readership of specialist titles with digital advertisers and online retailers. The move values GoCo Group – the owner of brands such as Go Compare and My Voucher Codes – at 136p a share, a 23pc premium on Tuesday's closing price. The takeover has been backed by GoCo chairman Sir Peter Wood, who owns 29.65pc of the price comparison firm, a stake worth £170m based on the deal price. Sir Peter, who will be handed £41m in cash through the takeover, will also become one of the biggest shareholders in Future with a 5.4pc stake. GoCo shareholders will own about 19pc of the combined business. The announcement prompted a mixed reaction from the stock market during afternoon trading, with Future dropping 16pc to about £17 and GoCo surging 10pc to 121p.