Scottish Radio Holdings today allowed itself the chance to re-enter the bidding war for Border TV by announcing the withdrawal of its “no increase” statement made on 11 April, leaving open the possibility that it may make a higher offer for the group.
SRH announced its final bid of £141 million for Border last week after its initial offer was rejected by shareholders (see Scottish Radio Raises Bid As Border Shares Rise). The following day, however, a higher bid from Capital Radio, valuing Border at £146 million, was accepted by the group’s shareholders (see Capital Radio Wins Battle For Border).
In the light of a competing offer, Scottish Radio has withdrawn its stated “final offer”. In a statement today it said: “In order to allow SRH the flexibility to consider its position, SRH announces the withdrawal of its “no increase” statement.”
The group said that a further announcement would be made in due course, and urged Border shareholders to take no action as regards the Capital bid.
Scottish Radio Holdings: 0141 306 2242 Border Television: 01228 525101
Media Jobs
Hello. We have downloaded cookies on your device. Some of these cookies are essential for the website to function. Others are non-essential and are used for analytics and advertising.
We need your consent for these types of cookies.
To withdraw your consent or change your cookie choices, please do this through your browser settings.
Otherwise, click OK to accept and continue.
