By Bron Maher
National World, the local publisher formed by David Montgomery to acquire the former Johnston Press titles, says it is weighing making an offer for Reach plc.
In a statement National World said its board “notes the recent press speculation regarding a potential transaction involving Reach plc.
“National World confirms that it is at the early stages of exploring a possible offer for the entire issued and to be issued share capital of Reach. National World has not yet approached the Board of Directors of Reach with regard to the Possible Offer.”
The offer period closes at 5pm on 2 December, by which time National World must announce whether it is proceeding or not with an offer.
Reach is both the UK’s largest local publisher and the owner of the Daily Star, Daily Express and Daily Mirror national newspapers. Among its titles, National World publishes the Yorkshire Post and The Scotsman.
A merger of Reach and National World may attract the attention of the Competition and Markets Authority. Earlier this year then-Culture Secretary Nadine Dorries said she was “minded to” intervene in Newsquest’s acquisition of fellow local publisher Archant, although the deal ultimately went ahead anyway.
Source: National World
Deal size: N/A
Country: UK
Status: Official
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