Sydney – Mariner Financial looks set to take over Beyond International Limited after BIL’s board accepted an offer of $A74.6 million ($US67.3 million), beating an earlier bid of $A72.8 million ($65.7 million) by Malaysian-based private equity firm Navis Media. Cementing its prospects of winning control of the TV producer/distributor, Mariner bought more than 5 million shares in Beyond, raising its stake to just under 20%. Beyond Chairman Ian Ingram is associated with Mariner, an investment firm whose initial bid for Beyond was bettered by Navis Media. Navis Media has indicated it will not make a higher offer. A Federal Court hearing on November 2 will lead to a shareholder vote on the deal.
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