BT and musicMagpie takeover talks hit the rocks.

Staff Reporter

November 28, 2023

Takeover talks between music Magpie and BT and Aurelius Investment have ended.

A statement from music Magpie confirmed that acquisitive talks by BT and Aurelius investment had halted.

“The Board of musicMagpie notes the announcement on 24 November 2023 from Aurelius Investment Advisory Ltd on behalf of investment entities managed or advised by it or its affiliates, and the announcement on 27 November 2023 from BT Group plc, that they do not intend to make an offer for musicMagpie.

“Following the announcement by the Company on the 20 November 2023, which commenced the offer period in respect of the Company in accordance with Rule 2.4 of the Code (“Offer Period”), the Company continues to seek potential buyers for the entire issued and to be issued share capital of musicMagpie, and, as such, remains in an Offer Period. There can be no certainty that any offer for the Company will be made, nor as to the terms of any such offer. Accordingly, shareholders are advised to take no action at this time”.

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