KKR: launches tender offer for Axel Springer

(CercleFinance.com) - KKR has announced its intention to make a voluntary public tender offer for Axel Springer shares.


The offer will be at a price of 63 euros per share in cash. As a result, Axel Springer shareholders will receive a 40% premium on the closing price of 45.10 euros per share, as of 29 May 2019.

KKR's offer enables it to make a strategic investment in Axel Springer to support the company's strategy in a partnership with Friede Springer and the Chairman and CEO Matthias Döpfner, who together hold approximately 45.4% of Axel Springer's share capital.

“Axel Springer has undergone a successful period of digital transformation from which the company has emerged as a leading European digital powerhouse. In light of the fast pace of change in the media sector, Axel Springer now needs continued organic investments and successful execution of its strategy so that the company can take advantage of the opportunities ahead. We look forward to supporting Axel Springer in tackling these challenges in a long-term and sustainable manner,” said Philipp Freise, Member and Head of the European Technology, Media and Telecommunications Industry team at KKR.


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