RTR: Liberty Global launches $7.4bn takeover for Sunrise

Mergers and Acquisitions abbreviation, letter dices word

By LoadstarEditorial

12/08/2020

REUTERS reports:

Liberty Global (LBTYA.O) is taking over Sunrise Communications (SRCG.S) in a deal valuing the Swiss telecoms group at 6.8 billion Swiss francs ($7.40 billion), it said on Wednesday.

Sunrise’s board recommended the all-cash offer of 110 Swiss francs per share put forward by Liberty Global, set up by U.S. cable pioneer John Malone.

Germany’s Freenet (FNTGn.DE), Sunrise’s largest shareholder, which holds approximately 24% of Sunrise’s capital, has signed a binding, unconditional commitment to tender its shares at the offer price, Liberty Global said.

To read the full story, please click here.

Read the PR here: “Liberty Global to Acquire 100% of Sunrise Communications Group by Tender Offer“.

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