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Liberty Global Officialy Launches EUR35.74 Ziggo Offer

Liberty Global Officialy Launches EUR35.74 Ziggo Offer

06/27/2014

By Ian Walker

 

U.S. media mogul John Malone's Liberty Global PLC (LBTYB) has officially launched its 35.74 euro ($48.67) share and cash offer for Dutch cable company Ziggo NV (ZIGGO.AE), after months of talks which started as far back as last August.

Under the deal, accepting Ziggo shareholders will get 0.2282 of a Liberty Global Class A ordinary share and 0.5630 of a Liberty Global Class C ordinary share and EUR11.00 cash for each share held, as agreed back in January.

The companies said Baptiest Coopmans will be appointed chief executive of the merged group and Bert Groenewegen will be appointed chief financial officer, subject to the offer being declared unconditional.

The offer period will open July 2, and close at end of business on Sept. 10.

The U.S. cable firm already owns 28.5% of Ziggo.

 

-Write to Ian Walker at ian.walker@wsj.com

 

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