Trinity Mirror Rumoured To Have Received Take-Over Bid

Trinity Mirror is believed to have been in talks with venture capitalists Apax Partners and Candover about a possible £1.3 billion bid for the newspaper group.

Reports suggest that Trinity Mirror chairman, Sir Victor Blank, met with Apax Partners and Candover to discuss an offer for the company late last year. However, the talks are not thought to have reached boardroom level on the grounds that the informal offer materially undervalued the newspaper group.

In December shares in Trinity Mirror were trading at around 400p. However, they had fallen to 369˝p on Friday.

Trinity Mirror, which publishes the Daily Mirror and 250 regional newspapers, has said that it will consider any serious offer for the group. However, it is understood that no further meetings have been held to discuss a potential deal.

The news comes on the day Trinity Mirror’s new chief executive, Sly Bailey, joins the company. Bailey, formerly chief executive of IPC, was appointed in December (see Bailey Leaves IPC To Replace Graf At Trinity Mirror) following confirmation of Philip Graf’s departure (see Graf To Step Down As Chief Executive Of Trinity Mirror).

Trinity Mirror: 020 7293 3000 www.trinitymirror.com

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