Liberty Global’s €39.78 per share offer for the remaining shares in Dutch cableco Ziggo is fair, an Amsterdam court has ruled.
Liberty can now go ahead with its squeeze-out to raise its current 95.6% stake to the full 100%.
Liberty began the…
Liberty Global’s €39.78 per share offer for the remaining shares in Dutch cableco Ziggo is fair, an Amsterdam court has ruled.
Liberty can now go ahead with its squeeze-out to raise its current 95.6% stake to the full 100%.
Liberty began the statutory squeeze-out proceedings in November after it completed its €35.74 per share offer.
That price represented a 47% premium over Ziggo’s 27 March 2014 closing share price, and the court has ruled that the €39.78 offer is the equivilent of that sum now.
The last remaining shareholders have until 13 May to volunteer their shares, and then on 19 May the stock will automatically be transferred to Liberty.
ING has acted as the exchange agent for offer, while Georgeson served as the information agent.
The tie-up brings together the Netherlands’ two largest cable operators, although the companies’ footprints do not overlap.
