LONDON, May 24 (Reuters) - European private equity firm Charterhouse said on Friday it had made a cash bid for Britain’s Tarsus valuing the listed media firm at about 561 million pounds ($711 million).
The bid represents a premium of about 36.2% to the closing price of 312 pence for each Tarsus share on May 23.
The proposed offer, which will be implemented through a scheme of arrangement, gives scheme shareholders 425 pence in cash for each scheme share they hold.
Tarsus shareholders will also be entitled to receive a final dividend of 7.7 pence for each Tarsus share for the 12-month period ending December 31, 2018, the private equity firm said.
Charterhouse is using an acquisition vehicle dubbed Tiger Acquisitions UK to carry out the transaction.
$1 = 0.7892 pounds Reporting by Pamela Barbaglia; editing by Jason Neely