National World 'minded to recommend' improved offer from Media Concierge

(Sharecast News) - National World said on Friday that it was "minded to recommend" a final and improved takeover offer from Media Concierge Limited at 23p per share in cash. The takeover proposal for regional publisher National World - which owns The Yorkshire Post and The Scotsman among others - was increased from 21p a share and values the group at around £61.5m.

"The board has great confidence in National World's strategy for value creation as an independent business and is excited by the company's prospects," it said.

"This notwithstanding, the board has concluded, after consulting with the company's advisers and counsel, that it would be minded to recommend the final improved proposal if a firm offer was made to the company's shareholders on these terms."

Media Concierge currently has a stake of just under 28% in National World.

At 1020 GMT, National World shares were up 3.5% at 19.66p.