Castle Communication PLC

Castle Communications PLC, the USM-quoted record and video publisher, found itself in the unusual position of announcing an agreed £24.5 million bid from US music distributor Alliance Entertainment hours after the details of the bid had already appeared in a newspaper. Following a consultation with the Takeover Panel, the Stock Exchange decided not to suspend trading in shares in Castle and asked Alliance to put out a brief holding statement which did not include the price, before the full announcement was made.

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