Higher GCap offer expected
Bosses at Global Radio are expected to make a second offer of up to 350 million pounds for GCap Media, a newspaper has reported. The generous bid and second attempt at takeover could come as early as this week, sources told the Sunday Express.
Global Radio first made an offer in December for around 300 million pounds, which was rejected almost instantly by the board. The company, led by former ITV chairman Charles Allen, was then told to put up or shut up, and given a deadline of March 5th at 5pm to make a better offer.