TX GROUP AG Goldbach takeover: COMCO to carry out in-depth review
The Swiss Federal Competition Commission COMCO has announced an in-depth review of the Goldbach Group takeover by Tamedia. The completion of the acquisition has therefore been postponed to September or October 2018. In the meantime, a second trading line will be opened for the Goldbach shares that have already been tendered.
Zurich, 9 May 2018 - The Swiss Federal Competition Commission COMCO has decided to carry out an in-depth review of the planned acquisition of the Goldbach Group by Tamedia. The completion of the takeover will therefore be postponed until September or October 2018.
Christoph Tonini, CEO of Tamedia: "We have taken note of COMCO's decision to carry out an in-depth review of the acquisition. We continue to believe that COMCO will approve the takeover given that Goldbach and Tamedia operate in two different business sectors. We are therefore confident that the takeover will be completed as planned in the second half of this year."
Another condition for Tamedia's acquisition of the Goldbach Group has already been met. By the end of the offer period on 11 April 2018, 96.90 percent of the maximum number of Goldbach Group's shares that are subject to the offer were tendered to Tamedia. Once the takeover has been completed, Tamedia plans to delist the Goldbach Group.
In view of the deferred completion of the takover, a second trading line will be opened in the coming days for the Goldbach shares that have been tendered as part of the public tender offer. On this second trading line, Goldbach shares (tendered Goldbach registered shares, security number 40350274, ISIN CH0403502740) tendered in the public purchase offer can be traded until a few days before the completion of the takeover.
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