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89.4 percent of stockholders accept acquisition deal
BSkyB's GBP 96 million acquisition offer for 365 Media has received steadily increasing acceptance from shareholders, with the would-be buyer reporting this week that 89.4 percent of stockholders were now in favour of the deal.
BSkyB offered 68p a share for the company last month (see previous InfoPowa report), amounting to a GBP 96 million cash offer. Initially, only 30 percent of shareholders backed the acquisition. Acceptance of the offer expires on January 19th.
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365 Media Group own and operate gambling and sport websites such as football365.com, teamtalk.com and the online casino clubonthepark.com. Through the acquisition of 365s network of websites, BSkyB would gain an audience of over nine million web users a month and a forecast 60 000 extra betting and gaming customers.
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