Liberty Global has issued a public offer for all issued and outstanding ordinary shares of Ziggo not yet owned by the company.
Liberty Global also announced that Baptiest Coopmans is to be appointed as CEO and Bert Groenewegen as CFO, subject to the offer being declared unconditional. Ziggo current CEO René Obermann will leave the company after the closing of the acquisition.
The offer period starts on July 2, 2014 and ends on September 10, 2014 unless extended. Liberty Global is offering €35.74 per share, of which €11 is in cash and the remainder in shares.
The acquisition of Ziggo by Liberty Global is currently under investigation of the European Commission with a current deadline for a decision set for October 17, 2014. This deadline may be extended.
The full joint press release can be downloaded from the Ziggo website.
