Shares in the Daily Mail and General Trust (DMGT) jumped by 10% this week after the group said that the Rothermere family, which owns 36% of it, “may take the... newspaper business private if the sale of its insurance-risk unit and online car seller Cazoo goes through”, says Ed Cropley on Breakingviews.
If this happens, shareholders will get 251p a share as well as a “special dividend” of 610p and DMGT’s stake in the insurance company Cazoo. This amounts to “nearly £12.70 per share”, a sizeable premium over the £10.60 the stock traded at before the news was announced.
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