BREAKING NEWS

BREAKING NEWS

Ireland's largest newspaper group, INM, receives cash offer from Mediahuis

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DUBLIN (Reuters) - Ireland's largest newspaper group, Independent News & Media, said on Tuesday it had reached agreement on the terms of a cash offer by Mediahuis for its entire share capital.

INM, which owns Ireland's highest selling daily and Sunday newspapers, said the offer of 10.5 cents per share, which was unanimously recommended by its board, values it at 145.6 million euros (£125.8 million).

"We are pleased to be announcing this transaction today and believe it represents an excellent outcome for both the company and its shareholders," the company said in a statement.

(Reporting by Graham Fahy; Editing by Andrew Heavens)

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