Media Concierge launches £56.2m takeover move for National World

National World shareholder Media Concierge has said it tabled a £56.2 cardinal takeover attack for the Yorkshire Post owner.

Media Concierge, which runs a raft of newspapers successful Ireland arsenic good arsenic nonstop message and advertizing operations, enactment guardant a imaginable connection of 21p per stock for National World connected October 31.

This represents a 40% premium against the firm’s stock terms astatine the adjacent of trading connected Thursday November 21.

The suitor, which owns a 28% involvement successful National World, said it believes this “provides a highly charismatic and deliverable accidental for National World shareholders to realise their concern astatine a important premium successful cash”.

National World has been contacted for comment.

Derry News proprietor Media Concierge said it “has made each effort to prosecute privately with National World and its advisers” but has not yet received immoderate substantive response.

It called connected different shareholders successful National World to propulsion for greater engagement implicit the imaginable offer.

The imaginable purchaser is among the archetypal backers of National World, aft it was acceptable up arsenic a media concern conveyance by erstwhile Mirror Group main enforcement David Montgomery successful 2020.

Later that year, National World snapped up determination paper steadfast JPI Media for £10.2 million, successful a determination which saw it instrumentality power of The Yorkshire Post, The Scotsman and dozens of different titles.

It has since been linked to different large acquisition deals and was among bidders to bargain the Telegraph Media Group earlier this year.

In August, National World revealed that radical revenues grew 17% to £48.8 cardinal for the archetypal fractional of 2024, arsenic it besides accrued its profits for the period.