Blackstone, Scout24 agree on €5.7B takeover deal

Friday, 15. February 2019 11:13

German internet portal Scout24 accepted the takeover offer worth €5.7 billion from American private equity giant the Blackstone Group, according to an official statement released on Friday. According to the release, the Scout24 board has given their full support for the deal that consists of a cash offer of €46 per share bd a premium of about 27.4% compared to December price of undistributed shares.

Blackstone will formally bid through a holding company Pulver BidCo and it will be subjected to a minimum acceptance treshold of 50 % plus one share.

"After diligent and thorough evaluation both the management board and the supervisory board of Scout24 AG have reached the conclusion to support the takeover offer," the German firm stated.

Following the news, Scout24 shares jumped 12.44% at 11:10 am CET during the intraday trade in Europe.

Related Links: Scout24 AG
Author:
Breaking the News / VK