By Charlotte Tobitt
Lord Rothermere has agreed an £850m takeover plan with the company that publishes the Daily Mail and Mail on Sunday in a move that will see the group taken private after nearly a century on the stock market.
Majority shareholder Lord Rothermere has agreed to pay 255p a share for Daily Mail and General Trust (DMGT) plus debts, up from an £810 million or 251p a share proposal first made in July.
Shareholders will also receive a special dividend worth 991p for each DMGT share following the recent stock market listing of used car business Cazoo, which DMGT had a stake in, and the sale of its insurance division RMS.
DMGT investors will also receive a final dividend worth 17.3p a share, with DMGT saying the total value of the offer and investor payouts comes to £12.63 a share – or just over £3 billion including debts.
Source: DMGT
Value: The deal puts DMGT at £850m. The total value of the offer and investor payouts comes to £12.63 a share – or just over £3 billion including debts.
Country: UK
Status: Official
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