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LONDON - National World PLC (LSE:NWOR.L) and NEO Media Publishing Limited, operating as Media Concierge, have been involved in an acquisition process since December 2024, when they announced a recommended cash offer for Media Concierge to acquire National World’s outstanding shares. This acquisition was to be executed via a scheme of arrangement.
The shareholder meetings to approve the Media Concierge Offer were held on Thursday, February 13, 2025, where the majority of National World shareholders voted in favor of the proposed resolutions. However, the acquisition’s progress was hindered by delays in regulatory approvals, leading to the postponement of the court sanction hearing and the effective date, initially set for early March 2025.
Amidst these delays, National World received a new approach from Eldridge Media Holdings LLC (EMH) on March 28, 2025, indicating a potential offer. This development has led to the rescheduling of the court sanction hearing for the Media Concierge Offer to May 22, 2025.
The Takeover Panel has now set a deadline for EMH. By 5:00pm on May 15, 2025, EMH must either announce its firm intention to make an offer for National World in accordance with Rule 2.7 of the Takeover Code or declare that it will not pursue an offer. This deadline is contingent upon no other party announcing an intention to make an offer for National World before that date.
National World, Media Concierge, and EMH have all acknowledged and accepted this ruling. The information regarding these developments is based on a press release statement and is disseminated by RNS, a news service of the London Stock Exchange (LON:LSEG), which is authorized by the Financial Conduct Authority as a Primary Information Provider in the UK.
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