(Adds details)
LONDON, Dec 2 (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 plus
a special dividend of 568 pence and 0.5749 Cazoo shares for each
DMGT share.
One large investor, Majedie Asset Management, 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.
Shareholders have until Dec. 16 to accept.
(Reporting by Paul Sandle; Editing by Kate Holton)
