{"id":1918,"date":"2020-07-14T12:48:40","date_gmt":"2020-07-14T16:48:40","guid":{"rendered":"https:\/\/bearamergers.com\/?p=1918"},"modified":"2020-07-14T12:48:40","modified_gmt":"2020-07-14T16:48:40","slug":"torstar-agrees-to-be-acquired-by-nordstar-at-a-price-17-5-higher","status":"publish","type":"post","link":"https:\/\/bearamergers.com\/en\/torstar-agrees-to-be-acquired-by-nordstar-at-a-price-17-5-higher\/","title":{"rendered":"Torstar agrees to be acquired by NordStar at a price 17.5% higher"},"content":{"rendered":"<div class=\"renderable\" data-template=\"header\" data-key=\"header_vlmt6fu3jq\">\n<div id=\"header\" class=\"Header_nav-container_3U8I4\" data-reactroot=\"\">\n<div class=\"TopBar_top-bar_172cL\" role=\"navigation\" aria-label=\"Utility\">\n<div class=\"TopBar_right_s3lTM\"><\/div>\n<\/div>\n<div class=\"Header_nav-content_2UOE2\">\n<div class=\"Header_nav-upper_1lppo\">\n<div class=\"Header_nav-tools_uN05w\">\n<div class=\"Search_search_1-mUp\"><button class=\"Search_button_JvY_g\" aria-label=\"Reuters Search Open\"><\/button><span style=\"font-size: 14.4px\">JULY 11, 2020 \/ 8:57 PM\u00a0<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"renderable\" data-template=\"article_list\" data-key=\"article_list_htqnxit1ix\">\n<div data-reactroot=\"\">\n<div class=\"ArticlePage_container\">\n<div class=\"StandardArticle_container\">\n<div id=\"USKCN24D00V\" class=\"StandardArticle_inner-container\" data-scrolltoid=\"USKCN24D00V\">\n<div class=\"TwoColumnLayout_container StandardArticle_content TwoColumnLayout_fluid-left\">\n<div class=\"TwoColumnLayout_column TwoColumnLayout_left\">\n<div class=\"StandardArticleBody_container\">\n<div class=\"StandardArticleBody_body\">\n<p>(Reuters) &#8211; Canadian media company Torstar Corp said on Saturday it reached an amended agreement to be acquired by NordStar Capital at a price of 74 cents per share, a 17.5% increase over NordStar\u2019s previous bid.<\/p>\n<p>NordStar raised its bid after a competing, unsolicited bid was received from a private investor group on Thursday, offering 14% more than NordStar\u2019s original bid, Torstar said.<\/p>\n<p>Torstar, the publisher of the Toronto Star, Canada\u2019s largest daily newspaper, as well as various regional and community newspapers, said it turned down the unsolicited offer after its board of directors determined it would not be able to constitute a \u201cSuperior Proposal\u201d under the NordStar Agreement.<\/p>\n<p>Torstar did not identify the group making the unsolicited bid.<\/p>\n<p>The Globe and Mail reported on Wednesday that Matthew Proud, chief executive of software firm Dye &amp; Durham Corp, and his brother Tyler Proud were proposing to offer about $58 million for Torstar.<\/p>\n<p>Torstar said its board recommends that shareholders approve NordStar\u2019s amended offer at the special meeting on July 21.<\/p>\n<div class=\"Attribution_container\">\n<div class=\"Attribution_attribution\">\n<p class=\"Attribution_content\">Reporting by Aishwarya Nair in Bengaluru; Editing by Leslie Adler<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>JULY 11, 2020 \/ 8:57 PM\u00a0 (Reuters) &#8211; Canadian media company Torstar Corp said on Saturday it reached an amended agreement to be acquired by NordStar Capital at a price of 74 cents per share, a 17.5% increase over NordStar\u2019s previous bid. NordStar raised its bid after a competing, unsolicited bid was received from a [&#8230;]\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-1918","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Torstar agrees to be acquired by NordStar at a price 17.5% higher - Beara Mergers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bearamergers.com\/en\/torstar-agrees-to-be-acquired-by-nordstar-at-a-price-17-5-higher\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Torstar agrees to be acquired by NordStar at a price 17.5% higher - Beara Mergers\" \/>\n<meta property=\"og:description\" content=\"JULY 11, 2020 \/ 8:57 PM\u00a0 (Reuters) &#8211; Canadian media company Torstar Corp said on Saturday it reached an amended agreement to be acquired by NordStar Capital at a price of 74 cents per share, a 17.5% increase over NordStar\u2019s previous bid. 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