Brief: Southern Cross Media Says Note ARN Intention To Engage On An Alternative Indicative Proposal

ARN Media

13/05/2024 02:13

May 13 (Reuters) - Southern Cross Media  SXL.AX :
    * NOTES ARN REFERS IN ITS ANNOUNCEMENT TO INTENTION TO
ENGAGE WITH
SCA ON AN ALTERNATIVE INDICATIVE PROPOSAL
    * WILL EVALUATE ANY FORMAL PROPOSAL PROVIDED BY ARN
    * DISAPPOINTED THAT CONSORTIUM HAS NOW WITHDRAWN ITS
PROPOSAL TO
ACQUIRE SCA
    * RECOMMENDS SHAREHOLDERS TAKE NO ACTION ON ARN’S PROPOSED
ALTERNATIVE PROPOSAL
    * REMAIN OPEN TO CONSIDERING PROPOSALS THAT WOULD DELIVER
FAIR
VALUE AND BE IN BEST INTERESTS OF ALL SCA SHAREHOLDERS

Further company coverage:  A1N.AX 

 ((Reuters.Briefs@thomsonreuters.com;))