Seven West Media Says Court Approves Proposed Acquisition by Southern Cross Media Group

MT Newswires Live09:08

Seven West Media (ASX:SWM) said the Supreme Court of New South Wales made orders approving a scheme of arrangement for the proposed acquisition of the company by Southern Cross Media Group (ASX:SXL), according to a Tuesday Australian bourse filing.

The company expects to lodge a copy of the court orders with the Australian Securities and Investments Commission on Wednesday, at which time the scheme will become effective.

It will also request that the quotation of its shares on the Australian Securities Exchange be suspended from the close of trading on Wednesday.

Shares of Seven West Media rose past 4% while shares of Southern Cross Media Group rose 1% in recent Tuesday trade.

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