Mergers and Acquistions News
Categories: Media & Information Services
November 9th 2011, 13:36PM
TV production company Endemol is set to reject any takeover bids it receives in the near future in favour of seeking a swap of debt for equity, it has been reported.
A host of firms have made offer to acquire the organisation - which was founded in 1994 and now comprises a global network of more than 80 companies in 31 nations - in the recent past, including Time Warner, which bid around €1 billion (£854 million).
However, sources close to this process have told the Financial Times that Endemol is not currently entertaining the idea of a sale and instead wants a debt for equity trade.
This, it is believed, would reduce the firm's debts from their present level of around €2.8 billion to €500 million and therefore represents its favoured option.
One insider indicated that Endemol had been "disappointed" with the amount offered by Time Warner, but another person added that a deal would still be considered if the latter company upped its offer. 
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