TMN shares were readmitted to trading on the Alternative Investment Market today as a result of the agreement on a reverse takeover.
When they were suspended in February, after it emerged TMN was in talks about the deal, its share price was 4.8p -- as of 2pm today they had climbed to 6p.
The length of time it took to announce the deal was blamed by TMN's non-executive chairman Peter Harkness on "the need to do everything in careful compliance with market rules".
Danson made his fortune with Datamonitor, which he founded and sold to Informa.
He owns 100% of Progressive, which runs business conferences, magazines and websites, and recently acquired left-wing political weekly New Statesman.
Danson built up a significant stake in TMN during 2008, when the company attracted interest from several suitors. He was appointed a non-executive director in October.
The deal will combine Progressive with the operations of TMN, including Affiliate Future, online researchers ID Factor and ICD Research, and email marketing planner and buyer EDR.
The rationale outlined by TMN today is that it will mean greater financial stability, increased profitability and more diversified revenues.
In the reverse takeover AIM-listed TMN will acquire Progressive by paying Danson with 292m new TMN shares. This is expected to give him a stake in TMN equivalent to 85% of the company.
The deal is conditional on the approval of TMN shareholders at an extraordinary general meeting on June 24.
Danson said: "I am convinced that in these difficult economic times, an enlarged group will be better placed to trade successfully in the challenging market, take advantage of increased scale, greater financial stability and flexibility and ultimately deliver strong levels of growth over the medium term by capitalising on exciting opportunities in the B2B and B2C markets."