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.
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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.
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