Business
Liberty Global Announces Definitive Interim Results of Sunrise Communications Group Tender Offer
82% of the Fully Diluted Share Capital of Sunrise Tendered Minimum Acceptance Offer Condition Exceeded Additional Acceptance Period for the Offer Begins
About this update from Liberty Global Ltd.
[{"type":"text","content":"\n82% of the Fully Diluted Share Capital of Sunrise Tendered\n\nMinimum Acceptance Offer Condition Exceeded\n\nAdditional Acceptance Period for the Offer Begins October 15, 2020 and Concludes October 28, 2020\n\n DENVER, Colorado--(BUSINESS WIRE)--\nLiberty Global (Nasdaq: LBTYA, LBTYB and LBTYK) announced today the definitive interim results for the all cash, public tender offer of UPC Schweiz GmbH (a subsidiary of Liberty Global) to acquire all publicly held shares of Sunrise Communications Group AG (SIX Swiss Exchange: SRCG). 37,107,859 Sunrise shares have been tendered as of the end of the main offer period, corresponding to 81.98% of the fully diluted share capital of Sunrise.\n\nThe minimum acceptance offer condition, being the valid tender of two-thirds of the fully diluted share capital of Sunrise, has been met. The additional acceptance period for the offer will start on October 15, 2020, and is expected to last until October 28, 2020, at 4 p.m. Swiss time.\n\nCompletion of the tender offer is subject to other conditions, including regulatory approvals. After the settlement of the offer, Liberty Global intends to initiate a squeeze-out procedure and delist Sunrise shares from trading on the SIX Swiss Exchange. Sunrise is therefore expected to become a wholly-owned subsidiary within the Liberty Global group of companies. Certain Sunrise shareholders who do not tender may face negative tax consequences if the squeeze-out has to be conducted via a merger.\n\nThe indicative timetable for the closing of the offer is as follows:\n\n\n\nThursday, October 15, 2020\n\n\n\nStart of the additional acceptance period\n\n\n\n\n\nWednesday, October 28, 2020\n\n\n\nEnd of the additional acceptance period (4 p.m. Swiss time)\n\n\n\n\n\nThursday, October 29, 2020\n\n\n\nProvisional notice of the end results of the offer\n\n\n\n\n\nTuesday, November 3, 2020\n\n\n\nDefinitive notice of the end results of the offer\n\n\n\n\n\nMonday, November 9, 2020\n\n\n(expected)\n\n\n\nSunrise Extraordinary General Meeting\n\n\n\n\n\nWednesday, November 11, 2020 (expected)\n\n\n\nSettlement of the offer (subject to satisfaction of remaining offer conditions, including regulatory approvals)\n\n\n\n\nABOUT LIBERTY GLOBAL\n\nLiberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is one of the world’s leading converged video, broadband and communications companies...