Dec 16, 2021
Rothermeres take back Daily Mail publisher
Lord Rothermere has succeeded in his attempt to delist the publisher of the Daily Mail from the stock market after the great grandson of the newspaper's founder won enough shareholder support for his takeover bid despite opposition from some prominent investors. Daily Mail and General Trust said that as of 5pm on Wednesday, 63 per cent of shareholder votes were in support of an offer made via a family investment vehicle of Jonathan Harmsworth, Viscount Rothermere. He is taking the company private at a time of upheaval at the Daily Mail and Mail on Sunday newspapers and MailOnline website, its best-known assets. As well as complaining the offer price was too low, some investors have been critical of the process that allowed the Rothermeres, DMGT's controlling shareholders, to buy all the shares they do not already own. The positive result for the Rothermeres comes after the family this month increased its bid by £35m in an attempt to secure shareholder support, raising it to 270p a share.
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