# Rothermeres up offer to take Daily Mail publisher private
Published: 2021-12-02
Category: News
Category URL: https://blockchaintribune.com/category/news/
Meta Title: Rothermere Family Raises Buyout Offer for Daily Mail Publisher to 270 pence per share
Meta Description: Find out how the Rothermere family raised their bid to take Daily Mail publisher DMGT private and what this means for shareholders. Deadline approaching.
URL: https://blockchaintribune.com/rothermeres-up-offer-to-take-daily-mail-publisher-private/

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LONDON (Reuters) -The controlling shareholders of the Daily Mail publisher, the Rothermere family, increased the cash component of its [offer](https://blockchaintribune.com/sneaker-maker-golden-goose-aims-to-list-in-milan-in-june/) to buy out other shareholders to 270 pence per share, representing a 5.9% rise on its original bid, they said.

The Rothermeres 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.

The increased offer was final and would not be increased, the family said on Thursday, adding that it had lowered the threshold for acceptances to 50%.

[Shareholders](https://blockchaintribune.com/factbox-battles-over-ceo-pay-across-the-globe/) last month were offered 255 [pence](https://blockchaintribune.com/british-property-portal-rightmove-hikes-dividend-after-annual-profit-jump/) in cash plus a special [dividend](https://blockchaintribune.com/allianz-aims-for-5-7-annual-eps-growth-for-2022-24/) of 568 pence and 0.5749 Cazoo shares for each DMGT share.

One large investor, Majedie Asset Management, said at the time that the offer was “substantially below” what it believed was a fair and reasonable valuation.

The special dividend and a 2021 proposed final dividend are unchanged in the increased offer.

Shareholders have until Dec. 16 to accept.

(Reporting by Paul Sandle; Editing by Kate Holton)


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