Liberty Global announced that it is intending to launch a voluntary and conditional cash offer, for all of the Telenet Group Holding NV shares and other securities giving access to voting rights that it does not already own or that are not held by Telenet. Liberty Global has been the controlling shareholder in Telenet since February 2007 and currently owns, through its wholly owned subsidiary, Binan Investments B.V., 50.4% of Telenets outstanding issued share capital. The Intended Offer will be based on a price of EUR35.00 per ordinary share. A price of EUR35.00 per ordinary share represents a premium of approximately 14% over the adjusted average volume weighted closing price of approximately EUR30.67 for the one-month period to Sept. 18, 2012 pro forma for the EUR3.25 capital reduction paid by Telenet on Aug. 31, 2012. The Intended Offer values all the outstanding voting securities of Telenet not currently owned by Liberty Global or held by Telenet at approximately EUR1.96B. No further regulatory approvals are required. <\/p>\n<\/p>\n
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\nLiberty Global launches voluntary, conditional cash offer for Telenet Group<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"