Capital Radio readies £130m Border TV bid
Monday 10 April 2000
Capital Radio is understood to be preparing this week to wade into the bid battle being waged over Border Television, with an offer expected to be worth in excess of £130m.
This would see the London-based broadcaster offer upwards of £12 per share, topping a bid from Scottish Radio Holdings (SRH), made last month, which values Border at £113m or about £10.54 per share.
Under that offer, which Border has rejected as inadequate, shareholders could choose an all-stock option or a cash alternative of £10.25 per share.
Border, however, has been in talks with a range of radio groups during the past fortnight. Potential suitors, in addition to Capital Radio, are believed to include Chrysalis; Kelvin MacKenzie's Wireless Group; and Guardian Media Group.
SRH's offer now lags Border's market valuation, indicating that investor expect a higher offer to emerge. Border closed at £11.55 on Friday, up 15p, valuing the company at £125m.
Border, the third-smallest ITV franchise, owns Century Radio in Manchester. It is believed that Capital would sell on Border's television business to either Granada or Scottish Media Group. It could also decide to keep the TV business, but contract it to one of the ITV companies to operate.
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
£Neg. (DOE) + Excellent Benefits: Guru Careers: A Finance Account Manager with...
£25000 per annum: Ashdown Group: An established media firm based in Surrey is ...
£25,000 to £35,000: Sphere Digital Recruitment: The Company Our client are th...
£80 – 120K : Sphere Digital Recruitment: Sales Director – Ad tech - £80 – 120K...