British Mecom bids for Wegener (update)

British media group and investment fund Mecom has made an offer for the bourse-listed Dutch publishing group Wegener. In April, Mecom took over the Telegraaf’s 23.7% stake in Wegener.

Wegener operates a string of local papers and jointly owns the AD media group with PCM. The company has agreed with the offer price but declined to comment further on the takeover, ANP reported.
Mecom already owns two regional papers in Limburg. It has offered €17.70 per Wegener share, valuing the Dutch company at € 792.2m. Shareholders are also being offered a slightly higher share alternative which values the group at €805.7m.
Wegener’s shares rose almost 5% to €17.60 on the news.

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