January 21, 2007 / 8:19 AM / 12 years ago

Hurriyet agrees $500mln offer for Trader Media East

LONDON, Jan 4 (Reuters) - Hurriyet Invest BV, an investment vehicle controlled by Turkish media firm Dogan Yayin Holding DYHOL.IS said on Thursday it had agreed a $500 million cash takeover offer for print and online advertising group Trader Media East (TME) (TMEq.L).

The recommended offer of $10 per TME share represents a premium of 23.5 percent to average closing price of TME GDR (global depositary receipt) for the three months to Dec. 19, the last business day prior to the announcement of an approach, Hurriyet said in a statement.

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