Foxtel Bids A$1.52/Share For Austar, Values Target Around A$1.92 Billion
25 Mayo 2011 - 8:00PM
Noticias Dow Jones
Australian metropolitan pay television operator Foxtel has made
a A$1.52-a-share bid for regional pay television company Austar
United Communications Ltd (AUN.AU).
Austar said in a statement Thursday it has received an
indicative, non-binding and conditional proposal from Foxtel, which
is owned 50% by telecommunications giant Telstra Corp. (TLS) and
25% each by News Corp.(NWS), the owner of this newswire, and
Consolidated Media Holdings Ltd. (CMJ.AU).
The bid values Austar around A$1.92 billion. Its shares last
traded at A$1.265 and will begin trading Thursday at 0100 GMT.
Austar said its board, which includes representatives of its
largest shareholder, U.S. cable company Liberty Global Inc.
(LBTYA), believes the value ascribed to Austar was "appropriate in
the context of a change of control transaction".
-By Gavin Lower, Dow Jones Newswires; 61-3-9292-2095;
gavin.lower@dowjones.com
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