Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Rothermeres win battle to take Daily Mail publisher private

Published 16/12/2021, 08:26
Updated 16/12/2021, 08:41
© Reuters. FILE PHOTO: A clock face is seen outside of the London offices of the Daily Mail newspaper in London, Britain, April 28, 2018. REUTERS/Toby Melville/File Photo

© Reuters. FILE PHOTO: A clock face is seen outside of the London offices of the Daily Mail newspaper in London, Britain, April 28, 2018. REUTERS/Toby Melville/File Photo

LONDON (Reuters) - The Rothermere family on Thursday won its battle to take the publisher of Britain's Daily Mail private after the owners of 57% of the shares backed their recommended offer.

The Rothermeres, who already controlled all of the ordinary shares in the company, agreed a deal to take Daily Mail and General Trust (DMGT) private last month after the sale of the group's insurance business, Risk Management Solutions, and a listing of online car seller Cazoo, which it partly owned.

They increased the cash component of their offer to buy out other shareholders to 270 pence per share earlier this month.

The offer also included a special dividend of 568 pence a share, 0.5749 Cazoo shares for each DMGT share and final dividend of 17.3 pence.

The total return to shareholders will be valued at about 1,278 pence per share.

© Reuters. FILE PHOTO: A clock face is seen outside of the London offices of the Daily Mail newspaper in London, Britain, April 28, 2018. REUTERS/Toby Melville/File Photo

(1 British pound = $1.3263)

($1 = 0.7542 pounds)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.