Business Services Industry
Irish not plotting second raid on APN.
Australasian Business Intelligence, July, 2007
Byline: Kate Perry and Neil Shoebridge
Jul 03, 2007 (The Australian Financial Review - ABIX via COMTEX) -- Australian-listed APN News & Media is at risk from another takeover bid. After APN's annual meeting in Sydney on 3 July 2007, Irish media group Independent News & Media said that it is not working on another bid. It has a 41.6 per cent stake in APN, but its $A3.8 billion takeover offer was rejected by institutional investors. APN's share price has since fallen. APN CEO, Brendan Hopkins, has reiterated the forecast that EBITDA will rise by 8.7 per cent to about $A380 million in 2007.
Publication Date: 4 July 2007
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