News: MRN Nine Entertainment Announces Offer To Acquire Macquarie Media

Aug 12 (Reuters) - Nine Entertainment Co Holdings Ltd (NEC) :

• ANNOUNCES A $1.46 PER SHARE ALL-CASH OFF-MARKET TAKEOVER OFFER (OFFER) TO ACQUIRE ALL OF OUTSTANDING SHARES IN MACQUARIE MEDIA
• BRINGING TWO BUSINESSES TOGETHER WILL REALISE FURTHER ANNUALISED SYNERGIES OF MORE THAN $10 MILLION
• ACQUISITION WILL BE 100% FINANCED FROM CASH RESERVES AND EXISTING DEBT FACILITIES
• OFFER EQUATES TO ENTERPRISE VALUE OF $275.4 MILLION, INCLUSIVE OF MRN'S 30 JUNE NET DEBT OF $22 MILLION, PAYMENT OF AUGUST DIVIDEND
• OFFER THROUGH UNIT FAIRFAX MEDIA LTD