Media Concierge has made a “final” improved offer for National World, indicating strategic intentions.
- Initially offering £56.2m, Media Concierge now proposes 23p per share for National World.
- Holding a significant 27.9% stake, Media Concierge seeks recommendations from National World’s Board.
- The proposal requires assurances from board members and major shareholders for completion.
- Ongoing investigations into Media Concierge’s financial practices have temporarily halted litigation.
Media Concierge recently escalated its bid to acquire National World, presenting a ‘final’ improved offer. Initially, the group had proposed £56.2 million in October, priced at 21p per share. They have now increased the offer to 23p per share, signaling their serious interest in acquiring the company.
The move to acquire National World aligns with Media Concierge’s vision to expand its media influence. The group currently owns 27.9% of National World and has provided written assurances about its intentions should the acquisition proceed. These commitments suggest a strategic imperative to guide the firm towards broader goals.
The final proposal hinges on several conditions which Media Concierge may waive. These include favorable recommendations from the National World Board and securing irrevocable commitments from key shareholders and directors. Such prerequisites indicate Media Concierge’s attempt to smooth the acquisition process and ensure stakeholder alignment.
Despite National World’s confidence in its independent strategic roadmap, there is openness to considering Media Concierge’s offer. The board has stated its willingness to weigh the proposal seriously once a firm offer reaches the shareholders under the specified terms. This openness reflects both strategic caution and a willingness to engage with potential growth opportunities.
Additionally, a legal pause has been agreed upon regarding an investigation into alleged financial discrepancies within Media Concierge. This relates to accusations that associated entities improperly retained £4.4 million owed to National World, a matter which is currently under detailed scrutiny. The temporary halt in proceedings suggests a focus on reaching a clear resolution to facilitate the acquisition.
Board members at National World have been in consultation with advisors to assess the viability and implications of the offer. The firm’s strategy, described as vibrant and empowering for its independent operations, remains a significant consideration even as it explores this potential acquisition.
Media Concierge’s improved proposal for National World reflects strategic ambitions despite ongoing financial investigations.
