RTTNews | Aug 12, 2020 01:14AM EDT

01:14 Wednesday, August 12, 2020 (RTTNews.com) - Liberty Global (LBTYA, LBTYB, LBTYK) said that it agreed to make an all cash public tender offer for all publicly held shares of Sunrise Communications Group AG at a price of 110 per share Swiss francs. The offer values 100% of Sunrise's equity at 5.0 billion francs, representing a total enterprise value of 6.8 billion francs.

The offer represents a 32% premium to the 60-day volume weighted average price per share of 83.17 francs during the period up to August 11, 2020.

The tender offer is expected to commence by the end of August.

Liberty said that Sunrise's board has recommended its shareholders to accept the offer. Freenet AG, Sunrise's largest shareholder, which holds about 24% of Sunrise's capital, has signed a binding, unconditional commitment to tender its shares at the offer price.

Liberty Global stated that it plans to fund the transaction through a combination of about 3.5 billion francs of cash from its balance sheet and about 3.2 billion francs of financing.

Read the original article on RTTNews ( https://www.rttnews.com/3120638/liberty-global-offers-to-buy-sunrise-communications-for-chf110-shr.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com All Rights Reserved