Audioboom Group (LSE:BOOM) shares dropped, losing 16.1% to 470p, with news that takeover talks had ended.
At the same time, the company forecast record first-half results and said it had ended its strategic review.
Audioboom, a global leader in podcasting, said the strong start to 2026 shown in its Q1 trading update has continued into Q2 and that the H1 outcome compares with revenue of US$35.1 million and adjusted EBITDA of US$1.8 million in H1 2025, the company said.
It also confirmed that the strategic review it launched on 3 October last year, for which J Goodwin & Co and Rockefeller Capital were appointed as joint financial advisers, has concluded after three parties submitted non-binding indicative proposals since February this year.
Audioboom said it has terminated discussions because the indicative offers, although at a premium to the 540p closing price on 2 October 2025, were judged to undervalue the company given its accelerating performance, and Audioboom is no longer in an Offer Period under the Takeover Code.
It expects to publish its results for the six months to 30 June on or around 16 July.
