Torstar shares halted on TSX amid report of higher offer for newspaper company

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Torstar shares halted on TSX amid report of higher offer for newspaper company

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A second bid to purchase newspaper publishing empire Torstar. Corp has reportedly emerged, one which values the corporate 14 per cent greater than the earlier supply.

The Globe and Mail newspaper first reported on the second bid from the Proud Brothers, Matthew and Tyler, who made their cash within the know-how sector.

The duo are reportedly providing 72 cents a share to purchase the corporate. That will worth the corporate at $58 million, higher than the 63-cent supply in Might from the Bitove and Rivett households’ firm Nordstar, which valued the corporate at $52 million.

Shares within the firm had been halted in premarket buying and selling on the Toronto Inventory Trade on Thursday morning, with regulators citing “pending information” as the rationale for the halt.

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