John Malone's Liberty Global Inc struck a deal to purchase British cable group Virgin Media for about $15.75 billion, a move that would put the U.S. billionaire up against old rival Rupert Murdoch. Libert and Virgin said in a statement on Tuesday that under the terms of the deal, Virgin Media shareholders will receive $17.50 in cash, 0.2582 Liberty Global class A shares and 0.1928 Liberty Global class C shares for each Virgin Media share. Using Tuesday's closing prices for those shares, that implies a value of $47.02 for each Virgin Media share.
Liberty Global, Inc. (LGI) is an international provider of video, broadband Internet and telephony services, with broadband communications and/or direct-to-home satellite (DTH) operations, As of December 31, 2011, the Company was serving 19. Shares of LBTYA fell by 2.27% or $-1.58/share to $67.88. In the past year, the shares have traded as low as $44.87 and as high as $70.65. On average, 1386550 shares of LBTYA exchange hands on a given day and today's volume is recorded at 6792729.
Virgin Media Inc. is engaged in entertainment and communications business. Shares of VMED traded higher by 17.89% or $6.92/share to $45.61. In the past year, the shares have traded as low as $21.25 and as high as $40.25. On average, 2687320 shares of VMED exchange hands on a given day and today's volume is recorded at 44697636.
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