Company News £11M BID FOR SHARES
George Newnes Group (N.Z Press Association —Copyright) LONDON, May 15. A new takeover bid worth more than £ll million has been made by the “News of the World” for the George Newnes Printing and Magazine Group. The Newnes board refused a £9,693,000 bid last month as being too low. Newnes owns more than 50 magazines ranging from “Tit Bits” and “Woman’s Own” to the “Motor and Petroleum Times.” It has assets of over £l2 million. The “News of the World” is offering 90s cash for each of Newnes’ 2,467,500 £1 ordinary shares. This compares with the equivalent of 78s in their original offer.
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Bibliographic details
Press, Volume XCVIII, Issue 28896, 16 May 1959, Page 16
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109Company News £11M BID FOR SHARES Press, Volume XCVIII, Issue 28896, 16 May 1959, Page 16
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