TV - Grupo Televisa says Megacable board rejected offer for merger
- Grupo Televisa ( NYSE: TV ) said Megacable's board rejected a merger proposal made last month. Grupo Televisa shares were halted after earlier climbing 11%.
- Televisa plans to pursue other alternatives with Megacable on a merger, according to traders, who cited Bloomberg headlines, which cited a Mexico stock exchange filing.
- The Televisa proposal included Megcable shareholders owning 45% of the erged company with Televisa ( TV ) owning about 55%. Megacable holders would receive a 14.8 billion peso special dividend and Megacable would remain publicly listed on the Mexican stock exchange.
- Reuters reported news of a potential deal earlier.
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Grupo Televisa says Megacable board rejected offer for merger