DJ MARKET TALK: Seven Wants ConsMedia's Shareholder Register
0050 GMT [Dow Jones] In latest twist in potential battle for Consolidated Media (CMJ.AU), CMJ says its been approached by potential suitor Seven (SEV.AU) for its share register, which could indicate that SEV could be looking at a move soon. With CMJ planning to buy back shares, analysts had speculated that if Seven were to move on CMJ, it could be sooner rather than later. Seven built a 19.9% stake in CMJ in July through share market raids, which was met with hostile reaction from CMJ's biggest shareholder, James Packer, who lifted his stake to more than 40% in response. CMJ shares up 4.5% at A$3.27 on back of news that Seven is after its registers, analysts have speculated that if SEV makes a bid, it would need to be up to A$4 a share. (LMF)
CMJ Price at posting:
$3.33 Sentiment: Buy Disclosure: Held
