Beano publisher tipped to scupper Mirror job site bid
- Added:
- Sep 06, 2005
The Dundee-based firm has been buying a significant number of shares in Hotgroup since July.
The Scotland on Sunday reports that in the last week alone, it bought 750,000 shares at 19.5p on Tuesday and another 500,000 at 20p on Friday, taking its holding to 3.75%.
Established in 1905, DC Thomson publishes 200 million magazines and newspapers each year, including the Beano, Dandy and The Sunday Post.
Last week, Trinity Mirror revealed it had made a £50.5m, or 20.25p per share, offer for Hotgroup, and that institutional investors holding 20% have accepted.
The offer has been recommended by Hotgroup's board.
However, according to city sources, DC Thomson is preparing a counterbid of around 23p a share for the site.
The family-run firm has recently bought 1 million shares in UBC, owner of Classic Gold radio, taking its total stakeholding to 7.35%.
