Audioboom Group plc (AIM:BOOM) has urged investors to snub a £188 million offer backed by property tycoon Nick Candy. Independent board members advised shareholders to take "no action", despite around 26% of the company's investors already backing the deal. The Aim-listed firm has been considering an offer from All Access Capital worth around £12 per share in cash and stock. Mr. Candy, who owns around 14% of shares in Audioboom through Candy Ventures, has given its backing to the bid, which would see the companies combined and then relisted. But Audioboom said on July 22, 2021: "The independent directors believe that the possible offer significantly undervalues the Audioboom business, its progress and potential to capitalise on its market position to generate value for the company's shareholders. "The independent directors do not believe there to be any compelling logic to justify a combination of the two businesses". All Access has until Aug. 16 to make a firm offer. Insiders believe another bid could emerge for Audioboom, which has previously attracted interest as a takeover target.