Mirror Group and Trinity are expected this morning to announce a merger that will create Europe's largest newspaper publishing company.
The terms of the deal are believed to value Mirror Group equity at pounds 1.3bn or around 285p per share. It is expected that Mirror shareholders will be offered a mix of Trinity stock and cash.
Sources stressed the deal will be structured as an agreed merger. Sir Victor Blank, chairman of Mirror Group, is expected to hold that job with the merged company, while Philip Graf, Trinity's chief executive, will continue in that role. John Allwood, Mirror chief executive, is expected to become finance director and deputy chief executive.