Proposed takeover of INM by Mediahuis approved unconditionally by CCPC
The proposed takeover of Independent News & Media (INM) by Belgium headquartered Mediahuis has been approved unconditionally by the Competition and Consumer Protection Commission (CCPC).
The €145.6m acquisition remains subject to the approval of INM’s own shareholders, the approval of Richard Bruton as Minister for Communications, Climate Action and Environment and the sanction of the High Court.
An extraordinary general meeting (EGM) of INM shareholders to vote on the takeover offer will be held on June 26th at the Carlton Dublin Airport hotel and the High Court will be informed of the outcome on July 4th.
The proposed acquisition requires the approval of shareholders representing at least 75pc of the value of INM’s shares.
Mediahuis announced its bid to buy INM at the end of April and the sale is expected to close in the second half of this year. The INM board has unanimously recommended the offer.
INM publishes the Irish Independent, Independent.ie, 'Sunday Independent', 'Sunday World', 'The Herald', 'Belfast Telegraph' and several regional newspapers.
Mediahuis publishes major newspaper titles, including De Telegraaf and NRC Handelsblad in the Netherlands and De Standaard and Het Nieuwsblad in Belgium.