ITV PLC
22 March 2006
ITV plc
Statement in response to press reports
In view of newspaper reports, the Board of ITV confirms that a Consortium
comprising Apax Partners, The Blackstone Group and Goldman Sachs' Principal
Investment Area recently expressed an interest in the possibility of acquiring a
controlling interest in ITV concurrent with a substantial distribution of cash
to ITV's shareholders and a very material increase in ITV's level of debt.
The Board carefully examined this proposal in the context of the company's own
strategic plans and was concerned that, inter alia, shareholders who did not
wish to retain their shares in this highly leveraged structure would not have
been assured of receiving a cash price for their shares at an appropriate
premium to reflect the change of control envisaged by the proposal. The Board
therefore unanimously concluded that the proposal could not be in the best
interests of all shareholders and accordingly rejected it.
This information is provided by RNS
The company news service from the London Stock Exchange
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