Aegis expects Dentsu transaction to complete in March

FTSE 250-listed media and digital communications group Aegis has provided an update on the proposed time frame of its transaction with Japanese advertising and public relations company Dentsu.

FTSE 250-listed media and digital communications group Aegis has provided an update on the proposed time frame of its transaction with Japanese advertising and public relations company Dentsu.

The group reported that the First Court Hearing is expected to take place on March 22nd 2013 and the Second Court Hearing is expected to take place on March 26th 2013.

"Subject to the scheme becoming effective in accordance with the scheme document, Dentsu and Aegis can further confirm that the scheme is expected to complete on 26 March 2013," Aegis' update reported.

Background: Dentsu cash offer for AegisOn July 12th 2012, the boards of Dentsu and Aegis Group jointly announced that they had reached agreement on the terms of a recommended cash offer by Dentsu for Aegis.

Shareholders approved the transaction at shareholder meetings on August 16th 2012.

On February 11th 2013, Dentsu and Aegis agreed to extend the long-stop date for the acquisition from February 28th to March 28th.

Aegis' share price was up 0.38% to 239.40p at 10:30 on Wednesday morning.

MF

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
The FTSE 100 is set for a makeover with an influx of new tech stocks
UK stockmarkets

The FTSE 100 is set for a makeover with an influx of new tech stocks

The FTSE 100 – the dullest index in the world – is about to reinvent itself as a host of new firms list on the market. The change is long overdue, say…
24 Jan 2021
Inflation is the easiest way out of this – just don’t expect politicians to admit it
Inflation

Inflation is the easiest way out of this – just don’t expect politicians to admit it

The UK government borrowed £34.1bn in December, a record amount for that month. Britain's debt pile now amounts to 100% of GDP. How are we going to pa…
22 Jan 2021