Sydney- A short but spirited bidding war for Beyond International Limited resulted in the Beyond board agreeing to a takeover offer from private equity firm Navis Media Pty Ltd (Navis Media). Navis Media will acquire all stock in Beyond for $A1.22 cash per share, a 31% premium to the average price of the last six months, valuing the Australian television producer-distributor at $A74.6 million ($US62 million). That trumped a bid four days earlier by Mariner Financial Limited, which offered $A1.15 per share, worth $A68.7 million ($US57.8 million). The deal is subject to approval by shareholders at a meeting expected to be held in November. Mikael Borglund will continue as CEO of Beyond, but Ian Ingram will step down as Chairman. Ingram, the Deputy Chairman of Mariner, which owns 11% of Beyond, recommended accepting the offer in the absence of a superior proposal. It is the first investment in Australian media by Navis Capital Partners, which manages funds of more than $US1.5 billion.