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19.11 - 03:15
Rothermere family offers £3.1bn to take Daily Mail owner private
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The Rothermere family has made an offer to take the publisher of the Daily Mail, i and Metro private in a £3.1bn deal, in a move that will end a 90-year run as a publicly listed company on the London Stock Exchange.
The family, which founded the Daily Mail in 1896 and listed parent company Daily Mail and General Trust in 1932, has tabled a 255p per share offer valuing the newspaper business at £850m including debt.
The Rothermere’s Jersey-registered holding company Rothermere Continuation Ltd (RCL) initially proposed a 251p offer in July for the 64% of DMGT it did not already control, provided a number of preconditions were met.
In August, DMGT completed the first of the preconditions, selling the insurance risk business RMS to the credit
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