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TORSTAR CORP. $0.74 is a hold. The company (Toronto symbol TS.B; Consumer sector; Shares outstanding: 81.4 million; Market cap: $60.2 million; Takeover Target Rating: Highest; No dividend paid; www.torstar.com) publishes The Toronto Star, Canada’s largest daily newspaper by circulation. Its other daily and weekly papers are spread across Ontario. In 2015, the company acquired 56% of VerticalScope, a private firm that operates over 600 online forums and a variety of websites. Torstar has accepted a $0.74-a-share takeover offer from NordStar Capital LP. The Bitove and Rivett families control that private firm. However, Canadian Modern Media Holdings Inc., a private group formed by Matthew Proud and his brother Tyler Proud, recently increased its competing bid from $0.72 a share to $0.80. Despite that higher offer, Torstar’s controlling shareholders voted in favour of the NordStar bid. They control all of the class A voting shares. Fairfax Financial Holdings Ltd. (Toronto symbol FFH), which owns 40.3% of the outstanding class B non-voting shares, also voted for the NordStar offer. The deal…

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