EQT Consortium Launches EUR1.5 Billion Bid for French Digital Music Company Believe
By Dominic Chopping
A consortium of investors including private-equity company EQT have agreed to make a 1.52 billion euros ($1.64 billion) takeover bid for French digital music company Believe.
The consortium, which also includes investment firm TCV and Believe's founder and chief executive, said Monday that they will pay EUR15 a share and have already agreed to buy 71.92% of the company from certain existing shareholders.
Completion of the stake buy is expected to take place during the second quarter, and the consortium will then launch a tender offer for the remaining shares.
The offer represents a 21% premium to Believe's closing price on Friday of EUR12.40.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
February 12, 2024 02:27 ET (07:27 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
For Bond Investors, Delayed Rate Cuts Demand a Different Playbook
-
What’s Happening In the Markets This Week
-
How the Tokyo Stock Exchange Is Pushing for Better Shareholder Returns
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Where We See Opportunities After an Ugly Month for Stocks
-
After Earnings, Is Alphabet Stock a Buy, a Sell, or Fairly Valued?
-
When Will the Fed Start Cutting Interest Rates?
-
What’s the Difference Between the CPI and PCE Indexes?
-
Berkshire Hathaway Earnings: Strong Insurance Results Continue to Lift Revenue and Profitability
-
10 Questions for Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Ford Stock a Buy, a Sell, or Fairly Valued?
-
3 Dividend Stocks for May 2024
-
Amgen Earnings: Obesity Drug Update Is Highly Encouraging
-
What’s Going on With Apple, Tesla, and Alphabet?
-
Apple Earnings: A Weak 2024, but Optimism for 2025
-
4 Utility Stocks to Play the AI Data Center Boom