Telegraaf Media Groep NV logo

TMG - Telegraaf Media Groep NV News Story

€6 -0.1  -1.0%

Last Trade - 21/02/18

Sector
Consumer Cyclicals
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £266.7m
Position in Universe th / 846

CORRECTED-UPDATE 1-De Mol makes cash offer for Telegraaf shares

Wed 14th June, 2017 11:47am
(Corrects to read SBS, show De Mol owns SBS, paragraph 8) 
    June 14 (Reuters) - Dutch tycoon John de Mol has launched a 
full cash offer on all outstanding shares in Telegraaf Media 
Group  TLGNc.AS  through his investment vehicle Talpa, dragging 
out a battle over control the Netherlands' largest newspaper.    
    Talpa said late on Tuesday it would offer 6.50 euros ($7.29) 
in cash per share, valuing the Dutch media group at around 300 
million euros. 
    TMG would not immediately comment on the situation.  
    A rival bid of around 274 million euros or 6 euros per share 
by Belgian publisher Mediahuis and partner VP Exploitatie 
received TMG's supervisory board's backing in April. 
 urn:newsml:reuters.com:*:nL8N1HR5UX  
    Mediahuis and VP Exploitatie, which already hold a nearly 60 
percent stake in TMG, have taken notice of de Mol's offer, they 
said in a joint statement. 
    De Mol's Talpa Holding has built a rival 25 percent stake in 
TMG, which he had earlier pledged not to sell, effectively 
blocking Mediahuis' intent to reach the 95 percent threshold 
required to initiate buy-out proceedings and take the company 
private. 
    TMG publishes the popular Telegraaf daily and also owns Sky 
Radio and several leading magazines in the Netherlands. 
Mediahuis owns another major Dutch newspaper, NRC Handelsblad. 
    De Mol, best known as the creator of hit television show Big 
Brother, owns television broadcaster SBS and several leading 
Dutch radio stations through Talpa.  
    ($1 = 0.8916 euros) 
 
 (Reporting by Wout Vergauwen; editing by Sunil Nair and Jason 
Neely) 
 ((wout.vergauwen@thomsonreuters.com; +48 58 772 0244;)) 
 
Keywords: TELEGRAAF MEDIA GROUP M&A/TALPA (CORRECTED, UPDATE
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