Remgro makes offer for Caxton – FIN24

JOHANN RUPERT has made a R2.34bn offer to buy ELEMENTONE, the company which holds a 40% stake in CAXTON AND CTP PUBLISHERS & PRINTERS, the Sunday Times reported yesterday. REMGRO, partnering with RAND MERCHANT BANK, offered R475m in cash and the rest in stock, priced at R22.51/share. ELEMENTONE told the publication that RUPERT’s offer presented a unique opportunity to unlock value. This news brief represents a summary of the original article.