Court approves €145.6m Mediahuis takeover of INM

A High Court judge has approved the scheme for the €145.6m takeover of Independent News & Media (INM) by Mediahuis.

Mr Justice Robert Haughton approved the scheme on Tuesday, a day after the takeover by Belgian based Mediahuis was approved by the Minister for Communications, Climate Action and Environment.

He was told the effective date for the scheme is when the relevant order is filed in the Companies Registration Office.

It is anticipated that order will be filed on Wednesday morning, paving the way for INM to seek to register as a private company.

Mr Justice Haughton described the scheme as "well thought out and well prepared" and noted it was approved by a "huge majority" of shareholders.

The scheme provides for INM's stock to be bought from all shareholders at the 10.5 cents per share price struck by Mediahuis last April.