Original article by Zoe Samios
The Australian – Page: 25 : 18-Nov-19
An independent expert’s report from Lonergan Edwards & Associates has backed Seven West Media’s takeover bid for regional affiliate Prime Media Group. The firm has concluded that the deal is ‘not fair but reasonable’, noting that Prime shareholders would gain exposure to a much larger and more diverse media company. Lonergan adds that the deal is in the best interests of Prime shareholders in the absence of a better offer. Seven estimates that the merger will generate annual cost synergies of about $11m.
SEVEN WENTWORTH, PRIME MEDIA GROUP LIMITED – ASX PRT, LONERGAN EDWARDS AND ASSOCIATES LIMITED, WIN CORPORATION PTY LTD