November 30, 2021 | Media | Europe | Ended
DMGT chairman Jonathan Harmsworth, better known as Lord Rothermere, is seeking to take the publishing group private after nearly a century on the stock market. Under the terms of the definitive agreement, structured as a UK takeover offer, the Rothermere family company, RCL, is offering shareholders £3bn, or 1,263p per share, consideration, comprising: (i) a 255p cash offer, which is 4p higher than RCL’s previous proposal in July 2021; (ii) a 568p special cash dividend, representing cash resources at DMGT after the company received proceeds from the sale of its insurance business, Risk Management Solutions (RMS); (iii) 0.5749 shares of Cazoo (CZOO US), a special stock dividend of the company’s recently deSPAC’d UK online used car business ...
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