Brief: ARN Media Announces Non-Binding Indicative Proposal To Acquire SCA

ARN Media

18/10/2023 02:19

Oct 18 (Reuters) - ARN Media Ltd  A1N.AX :
    * 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

Source text for Eikon:  ID: 
Further company coverage:  A1N.AX 

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