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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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February 4, 2016
07:00 EDTLBTYALiberty Global receives conditional EU approval to acquired BASE
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February 2, 2016
08:37 EDTLBTYAVodaone confirms talks with Liberty Global for creation of Netherlands JV
Following recent media speculation, Vodafone (VOD) confirms it is in discussions with Liberty Global (LBTYA) regarding the creation of a joint venture in the Netherlands that would incorporate both companies' local operating businesses. The discussions are ongoing and do not extend beyond the creation of a joint venture in the Netherlands. There is no certainty as to when or whether any transaction will be agreed.
08:23 EDTLBTYAVodafone in talks with Liberty Global for JV in Netherlands, Bloomberg says
07:29 EDTLBTYAVodafone, Liberty Global resume talks on possible asset swaps, Bloomberg reports
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