A takeover bid by Kerry Stokes's Seven Network for Consolidated Media Holdings is imminent, analysts say.
James Packer's ConsMedia issued yesterday a statement to the Australian stock exchange saying copies of its share register had been requested by a subsidiary of Seven Network.
On the news, ConsMedia shares price jumped 22c, or 7.03 per cent, to close at $3.35 after hitting an earlier high of $3.44.
IG Markets market analyst Cameron Peacock said the share register request had sparked expectation in the market that a bid might be imminent.
''There has been some chatter in the market that the share price that Seven would need to offer would be somewhere north of $4,'' Mr Peacock said.
''The shares are currently trading at about $3.20, it obviously got the market a little bit excited.''
For more, pick up a copy of today's Canberra Times
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