Dec 2, 2021
Rothermere sweetens bid to take Daily Mail publisher private
Lord Rothermere has raised his bid to take Daily Mail and General Trust private by £35m and said the improved offer for the publisher of the UK's bestselling daily newspaper is "Final". It comes after two large institutional investors spoke out against the offer from the Rothermere family, the media company's controlling shareholders. The cash component of the sweetened offer, made through a family investment vehicle of Jonathan Harmsworth, Viscount Rothermere, compares with 255p in the original bid. Including the dividends, the new offer values the group at about £2.75bn, down from £2.9bn at the time of the original offer thanks to a decline in Cazoo's share price. DMGT has been listed in London for almost 90 years and has recently undertaken a radical restructuring, selling a series of assets including the insurance risk modelling business RMS. The company has been left more exposed to consumer media, with a portfolio of publications including Metro and the i as well as the Daily Mail, Mail on Sunday and MailOnline.
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