More on the possibility of a GCap takeover. Following a number of recent stories suggesting different investment types were interested in acquiring the merged radio company, now the Guardian reports that a consortium headed by former EMAP radio boss Tim Schoonmaker is about to launch a private equity bid to acquire the company. Advised by Citigroup and backed by an unnamed funder, the consortium is reportedly talking to the radio group's existing major shareholders, including the Daily Mail & General Trust and Fidelity. While GCap boss Ralph Bernard is reportedly aware of the potential bid, the company continues to playdown talks of takeover, telling the Guardian: "We have not had any discussions about potential bids for the company."
Nov 4, 2005
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1 min read
Schoonmaker heading GCap takeover bid
A consortium led by former EMAP radio boss Tim Schoonmaker is reportedly preparing a private equity bid for GCap, advised by Citigroup.