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TEN confirms offer for EYE Corp

Outdoor Media Operations has made a $110m bid for TEN's outdoor group EyeCorp, lower than the original bid of $145m.

Outdoor Media Operations has made a $110m bid for TEN’s outdoor group EyeCorp, lower than the original bid of $145m.

This follows some reported concerns about Eye’s financial performance.

A TEN statement said:

Ten Network Holdings Limited (ASX:TEN, “TEN”) refers to the article in today’s Australian Financial Review entitled “Ten receives $110m offer for EyeCorp” and confirms that it has received an offer of approximately this amount from Outdoor Media Operations Pty Limited (“OMO”), a company controlled by CHAMP Private Equity.

The offer is subject to final negotiation of the revised terms of a share sale agreement between TEN and OMO.

It is anticipated that the final sale price will be subject to the outcome of these further negotiations.

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