Investor Relations
News Detail

24th Jan 2007

Revised Offer to the Board of APN News & Media

This announcement follows Independent News & Media PLC's ('INM' or the 'Group') (ticker: INWS.I; INWS.L) announcement of 24th November last, regarding its approach to the Board of APN News & Media Limited ('APN') in respect of a possible leveraged buy-out of APN.

INM confirmed today that it has, in conjunction with Providence Equity Partners and The Carlyle Group (together the 'Consortium'), made an all-cash offer for the entire issued share capital of APN at a price of A$6.05 per share.

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“Independent News & Media has always understood that beyond being a very successful company in the financial sense, it has broader social responsibilities to all those communities where it operates. This is demonstrated by over 200 projects and charities which the company has underwritten and supported and can be seen from the work that INM has done in education, particularly the work they’ve done in health education in South Africa in relation to HIV and AIDS.”

Baroness Margaret Jay, Non-Executive Director