Vodafone Launches Public Takeover Offer for Kabel Deutschland Holding
OREANDA-NEWS. Shareholders of Kabel Deutschland Holding AG ("KDH") can tender their shares from today until 11 September 2013.
Offer price of Ђ84.50 per KDH share in cash plus the payment of the proposed Ђ2.50 dividend announced by KDH on 20 February 2013, delivering a total value of Ђ87.00 per KDH share.
The Offer represents a premium of 51 per cent to the weighted average share price of KDH during the three months period ended 12 February 2013, which was the last undisturbed trading day before news articles were published asserting that Vodafone was interested in a takeover offer for KDH.
Further to the announcement on 24 June 2013, Vodafone Group Plc (“Vodafone”) announces today that it has launched a voluntary public takeover offer for the entire share capital of KDH through its indirect wholly owned subsidiary Vodafone Vierte Verwaltungsgesellschaft mbH. The publication of the offer document has been approved by the Bundesanstalt fьr Finanzdienstleistungsaufsicht and is now available on www.vodafone.com/investor in both German and English.
KDH shareholders can now accept the offer and tender their shares in KDH. The acceptance period will end on 11 September 2013 at 24:00 hrs (CET)/18:00 hrs (EST). Commerzbank AG, Frankfurt, will act as settlement agent with regard to the takeover offer.
As of today, Vodafone has purchased 3,750,462 KDH shares, representing approximately 4.2 per cent. of KDH's total share capital.
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