Mediahuis, a private European media group, acquired Independent News & Media, a leading newspaper and online publisher in Ireland, for €145m. Under the terms of the acquisition, INM shareholders will be entitled to receive 10.5 cent in cash for each INM ordinary share. The price represents a premium of approximately to 44% to INM's closing price of 7.28 cent on 3 April 2019. Commenting on the acquisition, Murdoch MacLennan, Chairman of INM said: "We are pleased to be announcing this transaction today and believe it represents an excellent outcome for both the company and its shareholders. The offer from Mediahuis represents a compelling opportunity for shareholders to realise cash for their shareholding in INM, at a price which fairly reflects the company's performance and standalone prospects. INM has a proud and illustrious history stretching back to the start of the twentieth century and the INM Board believes that this offer from Mediahuis, if approved, will herald an exciting new chapter for our employees, readership and customers. Mediahuis already has a strong track record in newspaper and digital media development in Europe, which we feel will provide INM with the best opportunity to achieve its strategic objectives, while continuing to enable it to deliver journalism of the highest quality to the island of Ireland and our readers abroad."