LONDON – The Rothermere family on Thursday won its battle to take the publisher of Britain’s Daily Mail private after the owners of 57% of the shares backed their recommended offer.
The Rothermeres, who already controlled all of the ordinary shares in the company, 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.
They increased the cash component of their offer to buy out other shareholders to 270 pence per share earlier this month.
The offer also included a special dividend of 568 pence a share, 0.5749 Cazoo shares for each DMGT share and final dividend of 17.3 pence.
The total return to shareholders will be valued at about 1,278 pence per share.
(1 British pound = $1.3263)
($1 = 0.7542 pounds)