UPDATE: Sausage denies takeover rumours

UPDATE: Sausage denies takeover rumours

Sausage Software has denied it will be acquired following run away rumours it is to be consumed by an American Media company.

According to a Sausage spokesperson any talk of a take-over, American or otherwise, is "completely untrue".

The rumours were fuelled by a 20 per cent surge in Sausage's share price Wednesday, which closed at $2.12, up 40 cents.

Among the many companies speculated as interested in Sausage is Nasdaq-listed MarchFirst, which met with then Sausage executive director, Wayne Bos earlier this year. MarchFirst is an Internet professional service firm assisting companies in setting up and implementing business models, brands and systems.

Sausage chairman, Gil Hoskins said the meeting is hardly cause for speculation since Sausage is in discussions with up to 25 companies at any one time. "This can be anything from hi how you going," he said.

Strengthening the rumours were industry suggestions Telstra has agreed to the sale of its five per cent stake in Sausage to MarchFirst at a 50 per cent premium to the price currently trading, a charge that Hoskins has dismissed.

"We are actually about to approach investors to discuss Telstra increasing their market share of Sausage," he said. "They have the option on some (share) options which we expect them to take, so I would discount the idea that they are looking to sell their stake. Besides, if the rumours were true we would be running for cover, but we're not."

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