Global Gets Extension To File GCap Takeover Bid
March 27, 2008 at 5:15 AM (PT)
The U.K.'s TAKEOVER PANEL has granted a five-day extension to the deadline for GLOBAL RADIO to finalize its offer to buy GCAP MEDIA.
GLOBAL is offering 371 million pounds for GCAP, owner of several radio properties in the U.K., including CAPITAL RADIO and XFM, and was originally given until WEDNESDAY (3/26) by the TAKEOVER PANEL to finalize its offer in a "put up or shut up" order. GLOBAL had earlier asked for an extension until next WEDNESDAY, which was rejected, but got until MONDAY (3/31) to declare its formal intention.