Chiltern Radio – GWR Offer Prejudices Minority Shareholders

Chiltern Radio has today announced details of its objections to GWR’s £21.3m takeover bid. The board said that the offer seems designed for the benefit of Chiltern’s two largest shareholders, DMGT and Capital Radio, who hold 37%, and prejudices the smaller shareholders.

The board said that an offer including a cash alternative is essential, and estimates that the cost of putting in place such an alternative would not exceed £200,000.

Chiltern looks unlikely to be rescued from the hostile GWR bid by CLT, which made a recommended cash bid for Chiltern last summer, as, according to today’s Financial Times, CLT is now interested in buying Galaxy.

Chiltern Radio: 01582 660001