Liberty seals the deal to buy Ziggo

|About: Liberty Global, Inc. (LBTYA)|By:, SA News Editor

Liberty Global (LBTYA) has agreed to acquire the 70% or so of Ziggo that it doesn't own in a cash and stock deal that values the Dutch cable group at €10B ($13.7B).

The offer is worth €34.53 a share, a premium of 22% to Ziggo's share price of €29.24 on October 15, the day before the company said Liberty had bid for it.

Liberty will also pay stockholders a dividend of one share for each share held.

The deal adds to Liberty's expansion in Europe after it acquired the U.K.'s Virgin Media for $16B last year.

Ziggo is the Netherlands' largest operator, with 2.8M digital-TV subscribers, while Liberty operates in the country through its UPC Broadband unit. The combined company will have 4M customers and revenues of €2.5B, although one wonders whether the deal won't face antitrust hurdles. (Previous) (PR)