The Independent News and Media led consortium to buy Australia's APN News and Media outright has upped its offer to A$6.20 cents, after its earlier bid of A$6.10 was deemed by shareholders to be too low.
This is the consortium's fourth bid to buy APN and it says this latest offer price is final.
Independent already owns around 42% of APN. APN News and Media publishes more than 120 newspapers in Australia and New Zealand and owns a string of radio stations.
Ted Harris, the head of an independent committee on the APN board examining the offer, said it represented an attractive premium over historical trading prices for APN shares.
'The independent committee recommends that all shareholders vote in favour of the scheme,' he said.
