MELBOURNE: Australia's APN News & Media Ltd said it has received a buyout approach from Irish newspaper group Independent News and Media, as firms jostle for position in expectation of a shake-out in the country's A$12bil media sector.
APN shares jumped as much as 11% on the statement, which came in response to a newspaper report which said APN's 40% shareholder Independent had teamed up with private equity firms to buy out the group in a deal worth A$3.8bil. The company said no formal bid had yet been tabled.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
