Media Concierge has made a bold move by offering £56.2m to acquire National World, aiming to capitalize on its majority shareholding to secure the deal.
- The offer stands at 21p per share, marking a significant 40% premium over the recent closing price, reflecting the group’s serious intent.
- Despite limited engagement from National World’s board, Media Concierge urges shareholders to consider the proposal for its financial benefits.
- This bid emerges as a strategic play following National World’s past acquisitions, including JPI Media, and potential interests in larger media groups.
- Mediaforce, under the helm of Malcolm Denmark, is leveraging its extensive industry experience to maneuver this acquisition.
Media Concierge, a prominent Irish media group, has made a decisive move to purchase National World with a proposed bid of £56.2m. This offer was initially put forth on October 31st, highlighting the group’s strategic approach to bolster its media portfolio.
The acquisition bid offers a noteworthy 40% premium at 21p per share compared to the previous day’s closing price. This valuation underscores Media Concierge’s commitment to providing significant returns to existing shareholders of National World.
Despite the generous offer, Media Concierge has faced challenges in initiating discussions, citing a lack of substantial engagement from National World’s board and advisors since the initial proposal was submitted 22 days ago.
With a desire for transparency, Media Concierge has gone public with its offer, encouraging National World’s shareholders to weigh the potential financial gains and urge the board to enter constructive dialogue.
Further emphasizing its position, Media Concierge continues to leverage its extensive shareholding of 27.9% in National World. Malcolm Denmark’s leadership in Mediaforce and his long-standing industry expertise lend credibility to this ambitious acquisition proposal.
Media Concierge’s bid for National World stands as a testament to strategic intent and financial opportunity.
