28th Mar 2025 11:50
(Alliance News) - National World PLC confirmed on Friday that Miami-based Eldridge Media Holdings LLC is considering an offer for the company, following shareholder approval in February of Media Concierge Holdings Ltd’s GBP65.1 million bid.
The Leeds, England-based owner of the Yorkshire Post and the Scotsman said it has received confirmation of Eldridge Media's takeover interest for its entire share capital, but said it is not yet in receipt of any proposal details.
Shares in National World grew 7.8% to 23.50 pence on Friday morning in London.
This follows National World's decision in December to recommend unanimously that shareholders vote in favour of the proposed GBP65.1 million all-cash offer from Media Concierge, the firm's largest shareholder with an around 28% stake.
National World on Friday sought to remind holders that the scheme of arrangement in relation to this acquisition was approved in February at the firm's general meeting.
However, it said it will consider the terms of any proposal put forward by Eldridge Media that may "deliver superior value to National World shareholders than the scheme".
It added that shareholders should not take any action at this stage since there is no certainty an offer will be made nor under which terms one might be made.
By Christopher Ward, Alliance News reporter
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