The starting gun has fired on ARN Media’s $225 million takeover bid for rival radio and television broadcaster Southern Cross Austereo – but Street Talk understands the target is taking advice from a new source.
Southern Cross has turned to UBS, after being advised by Grant Samuel, as pressure mounts on the company’s board to engage with ARN and its private equity partner, Anchorage Capital, and negotiate a tie-up.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
