APN, NZME likely to be more attractive takeover targets after demerger, Deloitte says

Wed, 11 May 2016

By Jonathan Underhill May 11 (BusinessDesk) - APN News & Media and its NZME unit in New Zealand would become more attractive takeover targets after demerging and the split wouldn't result in markedly weaker balance sheets, according to an independent evaluation by Deloitte. APN is proposing a demerger via an issue of shares on the basis of one NZME share for each APN share held. APN would also undertake a one-for-seven share consolidation and raise about A$180 million via a fully underwritten one-for-three renounceable entitlement offer,...

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