Morningstar sees takeover bid for Australia's Southern Cross Media to go through

ARN Media

18/03/2024 21:03

** Analysts at Morningstar see the revised takeover offer
for Southern Cross Media  SXL.AX  by ARN Media  A1N.AX  to be
successful
    ** Brokerage cuts SXL's PT to A$1.20 from A$1.70
    ** The broadcaster says it had received a revised proposal
from A1N, valuing co at about A$1.00 per share
    ** Morningstar sees a 75% chance for the new offer to be
accepted
    ** SXL stock up 0.5% YTD, as of last close



 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))