Posted by: youngragingbull | February 6, 2013

Liberty Global to acquire Virgin Media in $23.3B deal

Liberty Global Inc. said late Tuesday that it will buy U.K. telecom Virgin Media Inc. in a cash and stock deal with an enterprise value of $23.3 billion. The deal has an equity value of $16 billion.

Virgin shareholders will receive $17.50 in cash and 0.2582 Liberty Global A shares and 0.1928 Liberty C shares for each share held. The firm said that the offer implies a price of $47.87 for each Virgin share and a 24% premium to Virgin’s closing price on Feb. 4.

Liberty said that the deal will create the world’s leading broadband communications firm, with 25 million customers in 14 countries.

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