Key Points
Sony and Zee have decided to enter into good faith negotiations as required under the Merger Cooperation Agreement (MCA) to discuss the extension of the date required to make the merger scheme effective by a reasonable period...
Earlier, Sony Pictures Networks India (SPNI) said it hasnt yet decided on extending the Thursday, December 21, deadline to complete the merger with Zee Entertainment Enterprises Ltd (ZEEL)..
In a statement, the Sony Group Corporation-owned company said it looks forward to hearing ZEELs proposals and how it plans to meet the remaining key conditions...
Zees notice to the Bombay Stock Exchange and the National Stock Exchange of India dated December 17 is an acknowledgement that they will not be able to meet the December 21, 2023, deadline to close the SPNI/ZEE merger, the SPNI statement read...
It added that the ZEEL notice triggers an existing contractual provision in the deal that allows for both parties to discuss the possibility of extending the deadline...
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