Warner Brothers To Buy UK TV Firm Shed Media For GBP99.9 Million
05 8월 2010 - 6:03PM
Dow Jones News
Television production company Shed Media PLC (SHDP.LN) Thursday
said it has agreed a recommended takeover by a Warner Brothers
company, WB Bidco, and the existing management team, valuing the
company at around GBP99.9 million.
Shed, which makes television programs such as Waterloo Road,
Supernanny and Who Do You Think You Are?, said the takeover would
give it a global platform to support and deliver its growth plans
while Warner, which is part of Time Warner Inc. (TWX), said its
acquisition of Shed will give its television group a "solid
foundation," as it extends its local television production business
to other major regions.
Under the terms of the proposals, shareholders will receive 115
pence in cash for each Shed share--a 38% premium to the closing
price of 83.5 pence Wednesday and a 73% premium to the closing
price July 29, 2009, the last day before the offer period
started.
WB Bidco said it has received irrevocable undertakings and
letters of intent from Shed shareholders holding around 73% of the
shares.
At 0819 GMT, shares in Shed were up 29.5 pence, or 35%, at 113
pence. The wider AIM index was up 0.7%.
-By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308;
rachael.gormley@dowjones.com
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