Telenet has announced the mandatory reopening of Liberty Global’s voluntary and now unconditional public takeover bid for the 6.57% of Telenet shares that it does not already own or that are not held by Telenet.
The acceptance period of the offer, at €21 per share, will start today (August 24) and end on September 13, with Liberty Global intending to announce the results on or before September 20.
The offer price will be made payable before or on September 27.
Telenet notes that If, following the offer, Liberty Global Belgium Holding, together with Telenet, owns at least 95% of the shares of Telenet and has acquired, by acceptance of the offer, at least 90% of the shares that are the subject of the offer (i.e. resulting in 96.23% ownership), the offer will be followed by a simplified squeeze-out bid subject to the same financial conditions as the offer.
It also points out that its board of directors unanimously supports and recommends the offer.