Takeover talks between U.K. television companies Granada Group Plc and bid target LWT (Holdings) Plc have collapsed, the Financial Times newspaper said Tuesday. The paper said the failure would increase market speculation that Granada will have to raise its hostile offer for LWT before the bid deadline under U.K. takeover rules closes Sunday.
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ValueVision Intl. Inc., which announced plans for a hostile tender bid for National Media Corp. last week, filed plans to elect a slate of nominees to the company’s board Monday with the Securities & Exchange Commission. ValueVision, a Minnesota home shopping company, also began its tender offer to buy about 5.8 million shares of National Media, a Philadelphia infomercial maker, for $ 10.50 a share. On ValueVision’s slate are Anthony B. Cassara, president of Paramount Stations Group, and Arthur B. Laffer, a former economic adviser to President Ronald Reagan, among others. The vote would occur during National Media’s annual meeting, scheduled for March 21.