ENGLEWOOD, Colo.--(BUSINESS WIRE)-- <\/p>\n
Liberty Global, Inc. (Liberty Global) (NASDAQ: LBTYA, LBTYB and LBTYK) and Virgin Media Inc. (Virgin Media) (NASDAQ: VMED; LSE: VMED) today announced that they have entered into an agreement, subject to shareholder approvals, pursuant to which Liberty Global will acquire Virgin Media in a stock and cash merger valued at approximately $23.3 billion. <\/p>\n
Under the terms of the agreement, Virgin Media shareholders will receive $17.50 in cash, 0.2582 Liberty Global Series A shares and 0.1928 Liberty Global Series C shares for each Virgin Media share that they hold. Based on Liberty Globals Series A share price of $69.46 and Series C share price of $64.50 as of February 4, 2013, this implies a price of $47.87 per Virgin Media share, reflecting a 24% premium to Virgin Medias closing price on February 4, 2013.1 <\/p>\n
A Powerful Combination <\/p>\n
Creation of the worlds leading broadband communications company, covering 47 million homes and serving 25 million customers across 14 countries. The combined company will be focused on the strongest and most strategic markets in Europe, with the scale to be at the forefront of technological change for customers. <\/p>\n
Complementary strengths across product suite, with aligned triple-play products, roadmap and expertise across digital TV, broadband and telephony services. Mobility and B2B expertise offer significant additional growth potential in key markets. <\/p>\n
Significant potential to monetize customer base, with opportunity to deliver current customers enhanced bundled and premium services. <\/p>\n
Substantial synergy opportunity, driven by scale advantages across core functional areas. <\/p>\n
Accretive to free cash flow, with combined track record of exceptional free cash flow generation. <\/p>\n
Increased commitment to shareholder returns, leveraging the financial strength of the combined company, which generated $16.8 billion of revenue and $7.5 billion of Operating Cash Flow (OCF)2 in 2012. <\/p>\n
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Originally posted here:<\/p>\n
Liberty Global to Acquire Virgin Media<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" ENGLEWOOD, Colo.--(BUSINESS WIRE)-- Liberty Global, Inc. (Liberty Global) (NASDAQ: LBTYA, LBTYB and LBTYK) and Virgin Media Inc. Continue reading