DHX Media receives ‘unusual’ takeover overture from Indian auto-parts company [Toronto Globe and Mail (Ontario, Canada)]
DHX MEDIA LTD VARIABLE VOTING SHARES (DHXM)
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Source: Toronto Globe and Mail
DHX Media receives ‘unusual’ takeover overture from Indian auto-parts company An auto-parts company from India is making an unsolicited and unusual takeover overture for TV production company DHX Media Ltd., saying it is offering to buy the owner of the Peanuts and Teletubbies brands at a 3-per-cent premium to where its stock was trading. Sakthi Global Holdings said in a news release that it is making an “unsolicited merger proposal” for Halifax-based DHX priced at $5.32 a share, with $1.32 to be paid in cash and $4 to be paid in Sakthi stock, which is thinly traded on the U.S. over-the-counter (OTC) market. DHX shares closed on Tuesday at $1.96 on the Toronto Stock Exchange, up 9 per cent from the previous day but well below the Sakthi offer. The stock traded at $2.28 early in the session. At Tuesday’s close, DHX’s market capitalization was $29-million, while the Sakthi offers values DHX at $718-million. Story continues below advertisement In response to Sakthi’s early morning news r
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