SCA says no to ARN’s new indicative offer

That was quick, but perhaps not surprising.

SCA‘s Board have already decided that the Alternative Indicative Offer by ARN, after Anchorage Capital Partners pulled out of their initial consortium takeover bid, is not in its shareholders interests.

They’ve also said, in an ASX release, that they have not yet received from ARN a formal offer, but irrespective based on legal and financial advice, they won’t engage with it, as it does not represent the value or the incremental earnings that ARN outlined in their AGM.

Unless a party is willing to come in for SCA’s television assets it looks like this deal is now fully off the table.




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Michael McCormack
15 May 2024 - 4:29 pm

I still don’t think arn will give up on doing a deal with sca

Maths Man
15 May 2024 - 4:47 pm

Turns out those TV “assets” are a real ticking time bomb huh?

15 May 2024 - 10:47 pm

Where to from here for ARN?? Maybe discussions with the Super Network?? Cherry pick some FM stations

Jason, Andrew Toppin from Mubarek Victoria
16 May 2024 - 8:43 am

Nova Entertainment Might have something to say about this they might buy out the hall of SA.


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