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SCi rejects latest offer, rumour swirls around Time Warner

Wednesday, 23rd April 2008 09:00 GMT By Patrick Garratt

According to GI, SCi rejected the latest offer for the company. From the site:

UK publisher SCi has confirmed that it has rejected the latest offer made for the company, saying the proposal failed to “represent sufficient value.”

The unnamed third party’s offer came with a “significant premium” on the publisher’s current share and offered mostly equity consideration. However, the third party would have assumed responsibility for the company’s future funding, a situation the SCi board refused to sign off on.

Behind the scenes talk is heavily suggesting the “unnamed third party” is/was Time Warner. Giant winks on this.

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