Southern Cross Media Group Limited (ASX: $SXL) is reviewing a revised non-binding indicative proposal from ARN Media Limited and Anchorage Capital Partners Pty Limited to acquire 100% of SCA's fully diluted share capital. The proposal includes an increased share exchange ratio and cash consideration. SCA has advised its shareholders to take no action as the proposal is highly conditional and may not result in a binding transaction.
The Board of SCA will carefully consider the Revised Indicative Proposal along with its advisers. While the proposal has been revised, it remains highly conditional, and there is no certainty that it will lead to a binding transaction. Shareholders are advised to await further updates from SCA as the situation progresses.
Southern Cross Media Group Limited (ASX: $SXL) is currently evaluating a revised non-binding indicative proposal from ARN Media Limited and Anchorage Capital Partners Pty Limited for the acquisition of 100% of SCA's fully diluted share capital. The proposal involves an increase in the share exchange ratio and cash consideration. SCA has urged its shareholders to refrain from taking any action in response to the proposal, emphasizing its highly conditional nature. The company will continue to provide updates to its shareholders as the situation develops. The outcome of the Board's assessment of the Revised Indicative Proposal will be crucial in determining the future direction of SCA's corporate strategy and potential acquisition prospects.