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Thu 09 Sep 2009O'Brien in last-ditch bid for INM control
INDEPENDENT NEWS & Media (INM) investor Denis O’Brien hopes to receive waivers from the legal requirement to mount a mandatory bid for the firm if he takes a majority shareholding in the business as per his €100 million investment proposal to its banks.
His plan, which seems certain to be strongly resisted by INM and its bondholders, came on the same day as the heavily-indebted firm told the stock market that it was on the cusp of a deal to resolve an overdue €200 million bond.
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