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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Liberty Global Ltd | NASDAQ:LBTYB | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 16.29 | 15.02 | 23.81 | 16.57 | 16.57 | 16.57 | 121 | 22:00:00 |
AMSTERDAM-- Liberty Global PLC has agreed to buy Ziggo NV in a stock and cash deal that values the Dutch cable company at EUR6.9 billion ($9.44 billion)
Liberty Global, media mogul John Malone's international cable holding company, already owns 28.5% of Ziggo and has been in talks with the Dutch company since August. Ziggo said in October that it had rejected the offer but remained in talks with Liberty Global about a potential deal.
Under the terms of the agreement, which has the full support of Ziggo's management and supervisory board, Ziggo shareholders will get EUR11 in cash and 0.2282 Liberty Global Class A ordinary shares and 0.5630 Liberty Global Class C ordinary shares. Based on Liberty Global's share price on Jan. 24, 2014, the offer implies a price of approximately EUR34.53 per Ziggo share.
Including debt the deal values Ziggo at EUR10 billion.
Liberty Global will merge Ziggo with its wholly owned Dutch cable operator, UPC, creating a stronger domestic rival for Dutch telecommunications company Royal KPN NV.
Write to Robin van Daalen at robin.vandaalen@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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