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GCap sets date for takeover

6th June is the date that GCap have set for the completion of their £375 million take over by Global Radio.

The deal will create the biggest radio group in the country, dominating the London marketplace and several key marketplaces across the country.

According to Brand Republic, GCap Media convened an EGM to discuss Global Radio's 225pence per share offer, and GCap concluded the deal should go through on that date.

At that point the Office of Fair Trading will assess whether there are any competition issues presented by the two companies coming together. If there are any concerns, it will be referred to the Competition Commission, which could then take up to a year to decide on any potential remedies.

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