Do I hear any higher bids going once.. going twice... Sold!!! .....<br /><br />WIN trumps rival for control of SelecTV<br /><br />http://www.theage.com.au/news/Business/W...1174391176.html<br /><br />June 30, 2006 - 7:14PM<br /><br />Advertisement<br />AdvertisementRegional television broadcaster WIN Corporation Pty Ltd has trumped a rival bid to gain control of pay TV company SelecTV Broadcasting Ltd.<br /><br />WIN has offered $23.47 million for 195.6 million SelecTV shares at 12 cents per share, which would result in it holding a majority stake in the company.<br /><br />The agreement with WIN is conditional only on SelecTV shareholders approving the issue of shares to WIN.<br /><br />Listed telecommunication company Access Providers Limited (APV) this week made an offer of one APV share for each SelecTV share held.<br /><br />The APV offer is highly conditional and does not provide any funding to SelecTV or certainty to SelecTV shareholders, SelecTV said in a statement.<br /><br />"The directors of SelecTV unanimously consider the unconditional WIN transaction to be superior to the APV offer and, in the absence of a superior proposal, recommend that shareholders approve the issue of shares to WIN and reject the APV bid," the company said.<br /><br />SelecTV has engaged Lonergan Edwards and Associates Ltd to prepare an independent experts report to assist shareholders in assessing the WIN transaction.<br /><br />A meeting of SelecTV shareholders is expected to be convened for late next month.