A second bid to buy newspaper publishing empire Torstar. Corp has reportedly emerged, one that values the company 14 per cent higher than the previous offer.
The Globe and Mail newspaper first reported on the second bid from the Proud Brothers, Matthew and Tyler, who made their money in the technology sector.
The duo are reportedly offering 72 cents a share to buy the company. That would value the company at $58 million, better than the 63-cent offer in May from the Bitove and Rivett families' company Nordstar, which valued the company at $52 million.
Shares in the company were halted in premarket trading on the Toronto Stock Exchange on Thursday morning, with regulators citing "pending news" as the reason for the halt.
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