ITV Rejects Takeover Bid by Group of Private-Equity Firms

London -- ITV Plc, currently the largest independent terrestrial
broadcaster in the U.K., announced that it has rejected a bid from
a group of private-equity firms for a controlling stake in the
company. ITV said it rejected the bid -- tabled by Apax Partners,
the Blackstone Group and Goldman Sachs Group's Principal
Investment Area -- because it would lead to a large increase in
ITV's debt and therefore not be in the interest of its shareholders.
With the news, shares in the broadcaster increased by as much as
10.9% in late afternoon trading on the London Stock Exchange.
http://www.itvplc.com/itv/news/