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

ARN Media

18/12/2023 22:58

Dec 19 (Reuters) - ARN Media Ltd  A1N.AX :
    * UPDATE ON NON-BINDING INDICATIVE PROPOSAL TO ACQUIRE SCA
    * UNDER THE INDICATIVE PROPOSAL, SCA SHAREHOLDERS WOULD
RECEIVE
0.753 ARN SHARES AND 29.6 AU CENTS CASH  PER SCA SHARE
    * CONSORTIUM RECONFIRMED INDICATIVE PROPOSAL TO SCA BOARD 
OF
DIRECTORS AND GRANTED A FURTHER PERIOD OF DUE DILIGENCE
ENGAGEMENT
    * CONSORTIUM REMAINS CONFIDENT THAT INDICATIVE PROPOSAL
REPRESENTS
COMPELLING VALUE PROPOSITION FOR BOTH ARN AND SCA SHAREHOLDERS
    * CONSORTIUM OPEN TO WORKING WITH SCA TO STRUCTURE PART OF
CASH 
COMPONENT OF CONSIDERATION AS PRE-COMPLETION FULLY FRANKED
SPECIAL DIVIDEND

Further company coverage:  A1N.AX 

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