Daily Mail buys out Bristol press group
Friday 26 November 1999
The offer price of 742.5p per BUP share was a 43 per cent premium over the closing mid-market price before yesterday's deal. BUP publishes, prints and distributes newspapers, including the Bristol Evening Post and the Western Daily Press. It also publishes magazines and has interests in electronic publishing, including a stake in a regional press online classified advertising service, Fish4. DMGT already owned 29.9 per cent of BUP through a series of holdings - the maximum stake allowed without launching a full takeover offer.
The buyout boosts DMGT's share of the regional newspaper market from 12 to 14 per cent. Combined with its Northcliffe subsidiary, operating in the Midlands and south-west England, DMGT will rank second to Trinity Mirror, which has 20 per cent of the market.
The buyout is conditional on formal approval being granted by Stephen Byers, the Secretary of State for Trade and Industry, who will deliver his verdict next spring. DMGT shares fell by 20p to 3,680p.
- 1 What happens to your body when you give up sugar?
- 2 Ed Miliband deemed less influential than One Direction's Louis Tomlinson by official Doncaster power list
- 3 Japanese island overrun with cats after population explodes
- 4 Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
- 5 Have sex with your iPad thanks to the new sex toy no-one asked for
California teacher appears to have hanged herself in her classroom
The City of the Monkey God: Archaeologists claim to have found city lost for 1,000 years in remote Honduran jungle
Ed Miliband deemed less influential than One Direction's Louis Tomlinson by official Doncaster power list
Japanese island overrun with cats after population explodes
Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Durham Free School: 'Creationism taught at' free school facing closure
Ukip would cut billions from Scottish budget to fund English tax cuts
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
iJobs Money & Business
£15000 - £18000 per annum: Recruitment Genius: This is a great opportunity for...
£50000 - £60000 per annum + Excellent Salary: Austen Lloyd: An outstanding new...
£20000 - £21000 per annum + uncapped commission: SThree: As a graduate you are...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...