A second bid to buy newspaper publishing empire Torstar Corp. has emerged, one that reportedly values the company 14 per cent higher than the previous offer. Torstar Corp. confirmed on Thursday that a second offer to buy the company has come forward, and the company's board is currently considering the unsolicited offer by an unnamed private investor group. That would value the company at $58 million, better than the 63-cent offer in May from the Bitove and Rivett families' company Nordstar, which valued the company at $52 million. Torstar shareholders are scheduled to vote on whether or not to accept the original NordStar offer on July 21. Torstar's board says it still recommends shareholders vote for the NordStar deal, pending the discussions they are having with those who've made the new offer.

Source: CBC News July 09, 2020 11:35 UTC