CVC Capital Partners, the private equity group is reported to be in the early stages of plotting a possible take over bid for UK Newspaper publishing group Trinity Mirror PLC.
CVC is said to be analysing the company to see how much it would be worth paying for. Recently Trinity Mirror has seen its share price take a tumble leaving them down 3.89% on a week on week analysis, to close at 605p on Friday, despite last week issuing a positive trading statement and forecast for 2005.(see
Trinity Mirror Delivers Positive Trading Update)
However, CVC will time their bid carefully as although share prices have fallen stock is still 13.5 points up over the past year and the company is valued at almost two billion sterling.
Sly Bailey, chief executive for Trinity Mirror is likely to oppose any takeover approach, after allegedly rebuffing a second takeover from private equity house Candover Investments early this year.
Neither CVC Capital or Trinity Mirror have commented on the claims.
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