# Rothermeres up offer to take Daily Mail publisher private
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2021-12-02
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Rothermere family increases bid for Daily Mail publisher
Meta Description: The Rothermere family raises bid to 270p per share. Deal to privatise DMGT taking shape after recent business sales. Final offer, deadline Dec. 16.
URL: https://financedigest.com/rothermeres-up-offer-to-take-daily-mail-publisher-privatehtml

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LONDON (Reuters) -The controlling shareholders of the Daily Mail publisher, the Rothermere family, increased the cash component of its offer 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 last month were offered 255 pence in cash](https://www.financedigest.com/monte-dei-paschis-cash-call-93-covered-so-far-despite-low-shareholder-take-up.html "Monte dei Paschi’s cash call 93% covered so far despite low shareholder take-up") plus a special dividend of 568 pence and 0.5749 Cazoo shares for each DMGT share.

One large investor, Majedie [Asset Management](https://www.financedigest.com/britains-post-brexit-asset-management-revamp-eyes-liquidity-tokenisation.html "Britain’s post-Brexit asset management revamp eyes liquidity, tokenisation"), 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](https://www.financedigest.com/carrefour-management-increases-offer-in-wage-talks-with-unions.html "Carrefour management increases offer in wage talks with unions").

Shareholders have until Dec. 16 to accept.

(Reporting by Paul Sandle; Editing by Kate Holton)


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