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 serves on the board of Mariner, an investment firm whose initial bid for Beyond was bettered by Navis Media. Navis Media indicated it will not make a higher offer. A Federal Court hearing on Nov. 2 will lead to a shareholder vote on the deal. Beyond Managing Director Mikael Borglund tells Television Asia: “We will continue (our) growth strategy.” Mariner has flagged its intention to ask Beyond’s board to undertake a strategic review of growth opportunities, which may include the acquisitions of key creative talent, specific content formats, other independent production companies and companies involved in other forms of content production.
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