The Guardian Media Group (GMG) has made a takeover offer for Jazz FM, the radio station confirmed this morning. GMG has tabled a £41 million offer for Jazz, representing 180p per share – a 30% premium on Friday’s closing price of 139˝p.
The offer has not yet been fully accepted and the Board of Jazz FM is to meet shortly to discuss the proposal. In the meantime, the Board is advising shareholders to ‘take no action’.
GMG Radio Holdings already owns a significant stake in Jazz FM, as well as a number of other stations around the country.
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