Publisher of the Daily Express and the Daily Star, United Newspapers, is attempting to raise £190m through its shareholders by requesting that they buy one new share for every five they already own at a price of 480p per share.
The group is hoping to spend at least £100m over the next year on acquistions and also intends to expand business in the US and the Far East.
Pre-tax profits for the six months to June 1993 are being forecast as exceeding the £46.5m which the company gained for the same period last year.
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