Austereo (AEO) is a leading commercial radio broadcaster in Australia. The group operates three key national radio networks; Today, Triple M and two joint venture stations in Canberra and Newcastle. On 31 January, AEO has accepted a $741.3 million takeover from Southern Cross Media (SXL). The offer comprises $2.00 cash per AEO share, plus a 5 cent dividend declared by AEO. If the offer reaches the 90% compulsory acquisition threshold, the offer’s combined value amounts to $2.15 per share. SXL advised it will launch a capital raising to help fund the deal. AEO skyrocketed 10.6% on the day of the offer, making it one of hot stocks in the day’s market action. Keep informed of Austereo, hot stock news and recommendations with a free trial.February 1, 2011
Hot Stocks News Austereo (AEO)
Austereo (AEO) is a leading commercial radio broadcaster in Australia. The group operates three key national radio networks; Today, Triple M and two joint venture stations in Canberra and Newcastle. On 31 January, AEO has accepted a $741.3 million takeover from Southern Cross Media (SXL). The offer comprises $2.00 cash per AEO share, plus a 5 cent dividend declared by AEO. If the offer reaches the 90% compulsory acquisition threshold, the offer’s combined value amounts to $2.15 per share. SXL advised it will launch a capital raising to help fund the deal. AEO skyrocketed 10.6% on the day of the offer, making it one of hot stocks in the day’s market action. Keep informed of Austereo, hot stock news and recommendations with a free trial.
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