A1N 3.55% 68.0¢ arn media limited

Oct 18 (Reuters) - ARN Media Ltd (A1N) : NON-BINDING INDICATIVE...

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    Oct 18 (Reuters) - ARN Media Ltd (A1N) :

    • NON-BINDING INDICATIVE PROPOSAL TO ACQUIRE SCA
    • UNDER INDICATIVE PROPOSAL, SCA SHAREHOLDERS WOULD RECEIVE 0.753 ARN SHARES AND 29.6 AU CENTS CASH PER SCA SHARE
    • ARN MEDIA AND ANCHORAGE CAPITAL PARTNERS MADE A NON-BINDING INDICATIVE OFFER TO BUY SOUTHERN CROSS MEDIA
    • PROPOSED TRANSACTION AND SEPARATION WILL RESULT IN TWO SEPARATE, NATIONAL MEDIA ORGANISATIONS
    • UNDER PROPOSED TRANSACTION RADIO AND TELEVISION ASSETS OF ARN AND SCA TO BE SEPARATED INTO INDEPENDENT OWNERSHIP BY EACH OF ARN AND ACP
    • CONSORTIUM LOOKS FORWARD TO ENGAGING FURTHER WITH SCA TO DEVELOP INDICATIVE PROPOSAL
 
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68.0¢
Change
-0.025(3.55%)
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