By Charlotte Tobitt
Lord Rothermere has increased his offer to take DMGT private after some investors felt he was undervaluing the business.
He has upped the offer by 5.9%, taking it to 270p per share from 255p per share.
Majedie Asset Management, which has a 4.6% stake, had urged shareholders not to accept the offer as it was “substantially below what we believe is a fair and reasonable valuation”.
Meanwhile JO Hambro Capital Management, which owns about 3% of DMGT shares, had said it was “underwhelmed and unconvinced” by the proposal.
Source: Press Gazette
Country: UK
Status: Announced
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