Home Finance Torstar shares halted on report of $58 million competing bid

Torstar shares halted on report of $58 million competing bid

Trading in shares of Torstar Corp was halted on Thursday, after a report said two investors were proposing to offer a competing bid of about US$58 million for the Toronto Star newspaper publisher.

Matthew Proud, the chief executive officer of software firm Dye & Durham Corp, and his brother Tyler Proud would up the ante on Nordstar Capital’s offer of $0.63 per share by about 14 per cent, The Globe and Mail reported, citing sources familiar with the matter.

Torstar did not immediately respond to a request for comment.

The special meeting of Torstar shareholders to approve Nordstar’s offer is expected to be held in mid-July, the Canadian media company said in May.

© Thomson Reuters 2020

Read More


Please enter your comment!
Please enter your name here

Most Popular

DHS Secretary Sets the Record Straight on Fake News on Portland Riots

Chad Wolf, acting secretary of the Department of Homeland Security, hit back at a press conference in DHS headquarters in Washington, D.C. on Tuesday against media reports that the Trump administrati…

Trump Raises $20 Million in First-Ever Virtual Fundraiser

President Donald Trump raised an eye-popping $20 million on Tuesday night in his first-ever virtual fundraiser, from a total of more than 300,000 individual donors who participated. This is a great …

ACLU: Constitution Requires Illegal Aliens Count Toward Congressional Apportionment

The American Civil Liberties Union (ACLU), as well as other migration lobbying organizations, claims it is “unconstitutional” not to count illegal aliens when apportioning congressional representatio…

US House poised to vote on reversing Trump’s Muslim ban

The United States House of Representatives is set to vote on Wednesday on legislation reversing President Donald Trump's controversial ban on immigration from Muslim countries. The bill, called the …

Recent Comments

Business and Economic News :: Debtly