Feb 20 A consortium led by Belgian publisher
Mediahuis has raised its offer for Telegraaf Media Group (TMG)
, matching a rival 273 million euro ($290 million) bid
by Dutch billionaire John de Mol, sending TMG shares up as much
as 5 percent.
Mediahuis and its partner VP Exploitatie (VPE) now control
almost 60 percent of TMG shares but De Mol, who holds a stake of
around 20 percent, is set to fight on.
Talpa, de Mol's investment vehicle, said it was considering
the raised offer and confirmed its intention to launch a public
offer for all outstanding TMG shares.
De Mol, best known as the creator of hit television show Big
Brother, could block Mediahuis from reaching a 95 percent
threshold needed to take TMG private.
TMG publishes top-selling Dutch daily de Telegraaf and also
owns Sky Radio and several leading magazine titles.
The Mediahuis group raised its offer to 5.90 euros ($6.27)
per share, up 12 percent compared to its December bid, matching
De Mol's offer. Shares touched a high of 6.05 euros on Monday,
exceeding the offer price.
Mediahuis, which already owns Dutch media concern NRC media
and also publishes Flemish daily De Standaard, among other
titles, said on Sunday it acquired Navitas' 6.7 percent stake in
Combined with an earlier secured Delta Lloyd stake
of about 11 percent and VPE's 40 percent stake, that gives the
Belgian consortium control over nearly 60 percent of TMG shares.
TMG confirmed the receipt of the increased offer and said it
is in talks with Talpa Holding and Mediahuis/VPE.
($1 = 0.9415 euros)
(Reporting by Wout Vergauwen; Editing by Keith Weir)