Schibsted announces a recommended cash offer of SEK 1.65 per share in Aspiro
Schibsted ASA (“Schibsted ”) has on 12 January 2012, announced a public offer to the shareholders of Aspiro to transfer all of their shares in Aspiro to Schibsted (the “Offer”). Schibsted offers SEK 1.65 in cash per share in Aspiro. The Offer values all outstanding shares in Aspiro at approximately SEK 340 million. The completion of the Offer is conditional on, amongst other things, the Offer being accepted to such an extent that Schibsted becomes the owner of more than 90 percent of the total number of shares in Aspiro on a fully diluted basis. The completion of the Offer is not subject to any financing condition.
According to the indicative timetable set out in the press release through which the Offer was announced the acceptance period for the Offer is expected to commence around 18 January 2012 and end around 15 February 2012. Assuming that Schibsted no later than on 17 February 2012 announces that the Offer will be completed, it is estimated that settlement would begin around 21 February 2012.
Schibsted’s press release, the statement of the Board of Aspiro and the Fairness Opinion can be downloaded below.
Directly registered shareholder in Aspiro as of 13 January 2012 should have received a pre-paid envelope from Schibsted in a separate mail on or about 25 January 2012.
For further information about the Offer, please refer to www.schibsted.com.