Investor Relations
News Detail
24th Nov 2006
Update on Approach to the Board of APN
This announcement follows Independent News & Media PLC's ('INM' or the 'Group') (ticker: INWS.I; INWS.L) announcement of 26th October last, regarding its approach to the Board of APN News & Media Limited ('APN') in respect of a possible leveraged buy-out of APN.
INM has today informed APN that the proposed Consortium (comprising INM and certain private equity associates) has been unable to finalise its own terms that would have enabled the Consortium to have met its desired timetable, culminating with a formal offer to APN shareholders. As a result, the current discussions between the proposed Consortium members have been terminated at this time.
