Shares in media buying giant Mitchell Communications Group have been placed in a trading halt amidst reports London-based media group Aegis in a $350 million deal.
Mitchell Communications, chaired by veteran media figure Harold Mitchell, is expected to announce the deal this afternoon.
Initial reports suggest the takeover will be a cash and scrip deal. Aegis is listed on the London Stock Exchange.
Industry publication Ad News is reporting that Harold Mitchell would continue to work in the expanded group.
ABOUT THE AUTHOR
James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review's companies & markets editor, and a former BRW editor.
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