Anchorage targets Australia's Southern Cross Media
Anchorage Capital Partners has teamed up with ARN, which owns a range of broadcasting and outdoor advertising assets in Australia, to make a AUD 225.5m (USD 144m) bid for Southern Cross Media.
Their proposal would see shareholders receive 0.753 in ARN shares and AUD 0.296 in cash for every Southern Cross Share. This implies a total value of AUD 0.94 per share before taking into account the benefit...
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