Axel Springer SE: Minimum acceptance threshold exceeded for voluntary public tender offer by KKR
The planned strategic partnership between Axel Springer SE and KKR has made an important step ahead. Based on the declarations of acceptance received and booked so far by the custodian banks for the voluntary public tender offer by KKR to all shareholders of Axel Springer, the acceptance rate exceeded the minimum acceptance threshold of 20 percent at the end of the offer period on 2 August 2019.
Mathias Döpfner, CEO of Axel Springer said: "This is an important milestone for our planned strategic partnership with KKR. We can thereby use additional opportunities and accelerate our growth and investment strategy."
Julian Deutz, CFO of Axel Springer commented: "We are pleased that the attractive offer from KKR has been accepted. And we are optimistic that the remaining offer conditions can be fulfilled over the next months."
Pursuant to section 16 of the German Securities Acquisition and Takeover Act, shareholders who have not yet tendered their shares still can accept the offer at an offer price of EUR 63.00 per share during the mandatory additional acceptance period. This period will last 14 days and start following the announcement of the offer result which will be published by KKR within the next days.
The completion of the offer remains subject to various merger control, foreign investment and media concentration clearances.
Press contact: Edda Fels Axel Springer SE +49 30 2591 firstname.lastname@example.org
About Axel Springer Axel Springer is a media and technology company and active in more than 40 countries. By providing information across its diverse media brands (among others BILD, WELT, BUSINESS INSIDER, POLITICO Europe) and classifieds portals (StepStone Group and AVIV Group) Axel Springer SE empowers people to make free decisions for their lives. Today, the transformation from a traditional print media company to Europe's leading digital publisher has been successfully accomplished. The next goal has been identified: Axel Springer wants to become global market leader in digital content and digital classifieds through accelerated growth. The company is headquartered in Berlin and employs more than 16,300 people worldwide. In the fiscal year 2018, Axel Springer generated 71 percent of revenues with its digital activities which also contributed 84 percent to earnings (adj. EBITDA).
05.08.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Axel Springer SE Axel-Springer-Straße 65 10888 Berlin
Germany Phone: +49 (0)30 2591-77421 Fax: +49 (0)30 2591-77422 E-mail: email@example.com Internet: www.axelspringer.de ISIN: DE0005501357, DE0005754238, WKN: 550135, 575423, Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 851587 End of News DGAP News Service