22nd Mar 2006 09:29
ITV PLC22 March 2006 ITV plc Statement in response to press reports In view of newspaper reports, the Board of ITV confirms that a Consortiumcomprising Apax Partners, The Blackstone Group and Goldman Sachs' PrincipalInvestment Area recently expressed an interest in the possibility of acquiring acontrolling interest in ITV concurrent with a substantial distribution of cashto ITV's shareholders and a very material increase in ITV's level of debt. The Board carefully examined this proposal in the context of the company's ownstrategic plans and was concerned that, inter alia, shareholders who did notwish to retain their shares in this highly leveraged structure would not havebeen assured of receiving a cash price for their shares at an appropriatepremium to reflect the change of control envisaged by the proposal. The Boardtherefore unanimously concluded that the proposal could not be in the bestinterests of all shareholders and accordingly rejected it. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ITV