LONDON (Thomson Financial) - Global Radio has requested an extension to its
March 26 deadline to make an offer for Britain's biggest commercial radio group,
GCAP Media PLC, the Financial Times reported.
Global, which is chaired by former ITV chief executive Charles Allen, is
understood to have asked the Takeover Panel to extend the deadline to April 2,
the newspaper said.
The extra time is understood to be needed for due diligence, and is not a
negotiating tactic on the part of Global, the newspaper said.
Global, which could not immediately be contacted, has made an indicative
offer of 370 mln stg, or 225 pence per share, for GCAP.
paul.sandle@thomson.com
ps/cmr
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|