Liberty Global ended months of speculation, agreeing to purchase the remaining interest in Dutch cable operator Ziggo in a cash and stock deal valued at about $13.7 billion.
Liberty, which already owns a 28.5% interest in the Dutch cable company, has been in talks with Ziggo since August. In October, Ziggo rejected a Liberty takeover proposal as “inadequate.”
Liberty will combine its existing Dutch operations – UPC Netherlands – with Ziggo, reaching a combined 7 million homes, with about 4 million unique customers. The deal is expected to close in the second half of this year.
As part of the agreement, which values the Dutch cabler at about 34.53 euros per share ($47.18), Ziggo shareholders will receive 11 euros ($15.03) in cash and the rest in Liberty Global stock.
