(Bloomberg) --Daily Mail chairman Lord Rothermere cut the number of shareholders he needs to accept his proposed takeover of the newspaper company after facing opposition. Rothermere upped his initial offer for Daily Mail & General Trust Plc by 5.9% to 270 pence, according to a statement Thursday. Shareholders will have until Dec. 16 to decide on the new offer, which Rothermere’s family trust said was final. Majedie holds 4.5% and J O Hambro said it owns 3.3% of DMGT’s Class A shares, as well as advising on a further 2.6% stake. If Rothermere hits the 50% threshold, shareholders who decline to sell will continue to own shares in the private entity after it de-lists.

Source: Daily Mail December 02, 2021 08:05 UTC