SMG Takes Further Stake In Scottish Radio

Media group SMG this morning announced that it has bought a further 747,699 shares in Scottish Radio Holdings, representing a 2.3% stake in the company. The shares were priced at 1,595p each, a slight premium on Wednesday’s closing price of 1,587½p, valuing the stake at £11.9m.

SMG now holds a 23% stake in Scottish Radio and there has been much speculation that a full takeover bid may be on the cards. SMG first acquired a 14.9% stake in the group in December last year (see SMG Acquires 14.9% Stake In Scottish Radio Holdings) and added a further 5.9% shortly afterwards (see SMG Increases Stake In Scottish Radio Holdings). At the time SMG said it was not planning on making a bid for the whole of SRH, despite confirmation from the latter that takeover bids had been received (see SRH Confirms Interest From A “Number” Of Parties).

Stock in SRH remained unchanged this morning at 1,587p, whilst SMG dropped by 2p to 240p.

SMG: 0141 300 3000 Scottish Radio Holdings: 0141 306 2242

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