The bidding war continues: InterMedia Outdoor Holdings, the owner of The Sportsman Channel, says this morning that it will pay $9.75 a share — about $252M — for the Outdoor Channel. That seems to trump the $9.35 price that Outdoor’s board said last night it accepted from Kroenke Sports & Entertainment, which is controlled by real estate and sports mogul Stanley Kroenke. Investors apparently believe that the price will go even higher: Outdoor shares are up 5.9% to about $10.00 in late morning trading. The battle over Outdoor Channel is intensifying ahead of a May 8 shareholder meeting to vote on the Kroenke offer. Outdoor has been in play since late last year. In November it agreed to accept cash or stock valued at $8.00 from InterMedia. The board switched sides in March when Kroenke came in with an $8.75 offer. InterMedia appeared to back away, but returned this past Tuesday offering $9.15.
Outdoor Channel Remains In Play As InterMedia Ups Offer
What's Hot on Deadline
'Black Panther' Goes Wild: 2nd Best Sunday $60M+; 3-Day $201M+; 4-Day To Shred 'Jurassic World' & Possibly 'Last Jedi'
Olympic Curling Medalist From Russia Busted For Doping; Wardrobe Malfunction Leaves French Ice Dancer Exposed
Roy Wood Jr. To Star In Parole Officer Comedy From Trevor Noah & Aaron McGruder In Works At Comedy Central
Latest Business News
- Oscars Street Closures: When & Where To Expect Detours, Delays
- SAG-AFTRA Closes “Wigging” Probe, Says It “Remains Committed” To Ending Practice Of Men Doubling…
- Donald Trump Will Attend This Year’s Gridiron Dinner; Still A “Maybe” On White House Correspondents…
- Facebook To Rely On Ben Franklin-Era Technology To Verify Political Ads In The Wake of Russian Meddling
- Donald Trump Taunts Oprah At End Of Manic Weekend Of Tweets And TV News Watching
- NBA Guard Appears To Slur Chinese People In New Year’s Video