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  1. The Wire
November 3, 2021updated 21 Oct 2022 1:30pm

Lord Rothermere and DMGT agree buyout deal

Lord Rothermere has agreed an £850m takeover plan with the company that publishes the Daily Mail and Mail on Sunday

By Press Association and Press Gazette

Lord Rothermere has agreed an £850m takeover plan with the company that publishes the Daily Mail and Mail on Sunday in a move that will see the group taken private after nearly a century on the stock market.

Majority shareholder Lord Rothermere has agreed to pay 255p a share for Daily Mail and General Trust (DMGT) plus debts, up from an £810 million or 251p a share proposal first made in July.

Shareholders will also receive a special dividend worth 991p for each DMGT share following the recent stock market listing of used car business Cazoo, which DMGT had a stake in, and the sale of its insurance division RMS.

DMGT investors will also receive a final dividend worth 17.3p a share, with DMGT saying the total value of the offer and investor payouts comes to £12.63 a share – or just over £3 billion including debts.

Read the full story here.

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Source: DMGT

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Value: The deal puts DMGT at £850m. The total value of the offer and investor payouts comes to £12.63 a share – or just over £3 billion including debts.

Country: UK

Status: Official

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Select and enter your email address Weekly insight into the big strategic issues affecting the future of the news industry. Essential reading for media leaders every Thursday. Your morning brew of news about the world of news from Press Gazette and elsewhere in the media. Sent at around 10am UK time. Our weekly dose of strategic insight about the future of news media aimed at US readers. A fortnightly update from the front-line of news and advertising. Aimed at marketers and those involved in the advertising industry.
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy Policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

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