Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 16 : 30-Oct-23

ARN Media and Anchorage Capital Partners are offering 0.753 ARN shares for each Southern Cross Austereo share, along with $0.296 in cash and $0.127 in franking credits. Southern Cross chairman John Murray has labelled the takeover bid "opportunistic", while describing it as quite complex and one that could take months to evaluate. Murray and Southern Cross CEO John Kelly have established a sub-committee of its board and management to assess the offer, while its shareholders are supportive of it considering the bid.

CORPORATES
SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SOUTHERN CROSS AUSTEREO PTY LTD, ARN MEDIA LIMITED – ASX A1N, ANCHORAGE CAPITAL PARTNERS PTY LTD