Global Ups Bid For GCap Media
March 4, 2008 at 5:18 AM (PT)
GLOBAL RADIO has upped its bid for U.K. radio operator GCAPMEDIA at the last minute, proposing a 225p/share takeover and urging shareholders to push the GCAP board to accept the deal. GCAP has twice rebuffed GLOBAL on offers of 190p and 202p per share.
GLOBAL has until WEDNESDAY to make an acceptable bid. GLOBAL, headed by CHARLES ALLEN, characterized its 370.9 million-pound bid as its "final proposal."