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Stock Market & Financial Investment News

News Breaks
January 27, 2014
05:37 EDTLBTYALiberty Global to acquire Ziggo for $9.44B in cash, stock
Liberty Global (LBTYA) and Ziggo announced that they have reached a conditional agreement on a recommended offer pursuant to which Liberty Global will acquire Ziggo in a stock and cash transaction valuing Ziggo at $13.7B. In addition, Liberty Global also announced that its board has approved a stock dividend of one Liberty Global Class C ordinary share on each outstanding Class A, Class B and Class C ordinary share as of the record date for the stock dividend. It is expected that this stock dividend will be issued on March 3. Under the terms of the offer and adjusting for completion of the stock dividend, Ziggo shareholders will receive EUR 11.00 in cash, 0.2282 Liberty Global Class A ordinary shares and 0.5630 Liberty Global Class C ordinary shares for each Ziggo share that they hold. Based on Liberty Globalís Class A share price of $83.27 and Class C share price of $78.80 as of January 24, 2014, the offer implies a price of approximately EUR 34.53 per Ziggo ordinary share. The offer Price per Ziggo ordinary share represents an implied equity value for 100% of Ziggo on a fully diluted basis of approximately $9.5B and an implied TEV8 of approximately $13.7B, before taking into account transaction costs and other expenses. Liberty Global and Ziggo expect to deliver approximately EUR 160M in annual run-rate synergies on the combined Dutch business by 2018. Liberty Global will fund the acquisition with a combination of shares and cash. Liberty intends to raise over EUR 1.5B in incremental principal debt at Ziggo. Liberty Global and Ziggo anticipate that the offer will close in the second half of 2014.
News For LBTYA From The Last 14 Days
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September 15, 2014
07:24 EDTLBTYACredit Suisse to hold a conference
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September 12, 2014
11:13 EDTLBTYALiberty Global says no 'big' transactions on horizon
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10:10 EDTLBTYAHigh option volume stocks
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09:37 EDTLBTYAActive equity options trading on open
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September 11, 2014
11:20 EDTLBTYAVodafone open to Liberty Global deal 'for the right price,' Bloomberg reports
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10:02 EDTLBTYAcomcast and Liberty global announce agreement to connect WiFi networks
Comcast (CMCSA) and Liberty Global LBTYA) have announced an agreement to allow users to access each otherís Wi-Fi networks, creating an international Wi-Fi access agreement that will give many Xfinity Internet and Liberty Global internet customers access to millions of new Wi-Fi access points in various countries by 2015.
09:45 EDTLBTYAVodafone CEO says would consider Liberty deal, Bloomberg reports
Vodafone (VOD) CEO Vittorio Colao told Bloomberg in an interview that he would consider an acquisition of Liberty Global (LBTYA) "for the right price." Shares of Vodafone are down 1% in early trading to $32.88 while Liberty Global shares are up 3% to $43.20.
07:15 EDTLBTYALiberty Global extends offer for Ziggo
Liberty Global announced that the acceptance period for Liberty Globalís previously announced recommended public offer to all holders of issued and outstanding ordinary shares in the capital of Ziggo has been extended to 17:40 hours CET on November 4, in accordance with the terms and conditions of the Offer Memorandum dated June 27 and the U.S. prospectus/offer to exchange dated August 19.The Offer Period has been extended because not all conditions for completion of the Offer, in particular the condition on competition clearance, were fulfilled upon expiry of the initial acceptance period at 17:40 hours CET on September 10. Under the terms and conditions of the Offer, assuming the Asset Sale and Liquidation Resolutions adopted by Ziggoís Extraordinary General Meeting on August 26, 2014 remain in full force and effect as of the Acceptance Closing Date, the minimum acceptance condition of the Offer will be 80% of Ziggo's aggregate issued and outstanding ordinary share capital, on a fully diluted basis, as of the Acceptance Closing Date.
September 9, 2014
11:52 EDTLBTYALiberty Global initiated with an Outperform at RBC Capital
Target $58.
08:31 EDTLBTYALiberty Global says no plan currently to up ITV stake, Reuters reports
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