The voluntary public tender offer by US financial investor KKR to acquire a major stake in German media company Axel Springer has been successful.
The last outstanding merger control clearance was obtained, according to Springer. Therefore, all closing conditions are fulfilled and the public tender offer may be closed.
The settlement of the tender offer will take place within the next 10 banking days, thus by December 27, 2019. At the same time, shareholders will receive €63.00 in return for each tendered share.
Based on the acceptance rate of the tender offer plus further market purchases through and outside the stock exchange, KKR has secured 44.28% of the share capital and the voting rights of Axel Springer.
With the support by strategic partner KKR, the Berlin-based company wants to expand its position in digital content and digital classifieds through accelerated growth.
