Consolidated Media Holdings Limited (CMJ) announces that it has received a conditional and non‐binding proposal from News Limited to acquire CMH at a price of $3.50 cash per share by way of a scheme of arrangement on a CMH board – recommended basis. The Board proposes to engage constructively with News in relation to the Proposal, including as to the details of the terms and conditions.
The Executive Chairman of CMH’s largest shareholder Consolidated Press Holdings Limited, James Packer, said today: “CPH welcomes News’ proposal and looks forward to CMH and News working together to address the detailed terms and conditions. Subject to this CPH, considering the offer price of $3.50 per share to be fair will support the Proposal in the absence of a superior cash offer.”
Tags: acquisition, CMJ, Consolidated Media Holdings, Media, news corp, NWS
