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Monday, January 27, 2014

Liberty to take over Dutch cable group Ziggo, (NASDAQ: LBTYA)

U.S. cable group Liberty Global has agreed to purchase Dutch operator Ziggo in a cash and share deal valuing the acquired business at 10 billion euros ($13.7 billion). Ziggo, which in October rejected an earlier offer from Liberty as too low, said in a joint statement that the current offer impiled a price of 34.53 euros per share compared with Friday's close of 33.25 euros.

Shares of LBTYA fell by 2.64% or $-2.26/share to $83.27. In the past year, the shares have traded as low as $62.71 and as high as $90.93. On average, 1547340 shares of LBTYA exchange hands on a given day and today's volume is recorded at 2371223.